The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Reduced by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 77.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,615 shares of the financial services provider’s stock after selling 39,341 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in The PNC Financial Services Group were worth $1,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hexagon Capital Partners LLC raised its holdings in The PNC Financial Services Group by 8.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,738 shares of the financial services provider’s stock worth $281,000 after buying an additional 133 shares during the period. Kowal Investment Group LLC raised its holdings in The PNC Financial Services Group by 25.7% during the 1st quarter. Kowal Investment Group LLC now owns 2,576 shares of the financial services provider’s stock worth $416,000 after buying an additional 527 shares during the period. Hi Line Capital Management LLC raised its holdings in The PNC Financial Services Group by 1.4% during the 1st quarter. Hi Line Capital Management LLC now owns 37,827 shares of the financial services provider’s stock worth $6,113,000 after buying an additional 519 shares during the period. LVW Advisors LLC raised its holdings in The PNC Financial Services Group by 29.6% during the 1st quarter. LVW Advisors LLC now owns 5,890 shares of the financial services provider’s stock worth $952,000 after buying an additional 1,346 shares during the period. Finally, Breakwater Capital Group raised its holdings in The PNC Financial Services Group by 4.3% during the 1st quarter. Breakwater Capital Group now owns 3,963 shares of the financial services provider’s stock worth $640,000 after buying an additional 162 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. Insiders sold 2,132 shares of company stock valued at $328,809 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.43.

The PNC Financial Services Group Trading Up 1.7 %

Shares of NYSE PNC opened at $158.81 on Wednesday. The stock has a market cap of $63.19 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.22 and a beta of 1.15. The business has a 50 day simple moving average of $155.19 and a 200 day simple moving average of $152.97. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.