Mutual of America Capital Management LLC Sells 2,007 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Mutual of America Capital Management LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,179 shares of the financial services provider’s stock after selling 2,007 shares during the quarter. Mutual of America Capital Management LLC’s holdings in The PNC Financial Services Group were worth $7,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $1,200,000. Envestnet Asset Management Inc. grew its position in The PNC Financial Services Group by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock valued at $239,792,000 after acquiring an additional 6,657 shares during the period. Groupama Asset Managment acquired a new position in The PNC Financial Services Group during the fourth quarter worth $23,578,000. Integrated Advisors Network LLC lifted its holdings in shares of The PNC Financial Services Group by 7.3% during the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 148 shares during the period. Finally, Equity Investment Corp boosted its stake in shares of The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after purchasing an additional 22,188 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PNC shares. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group decreased their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley increased their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $176.90.

The PNC Financial Services Group Trading Up 2.5 %

PNC opened at $187.16 on Friday. The firm has a 50 day simple moving average of $176.75 and a 200 day simple moving average of $162.68. The company has a market cap of $74.47 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.36 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.42%. The ex-dividend date was Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the completion of the sale, the chief executive officer now owns 554,701 shares in the company, valued at approximately $101,604,582.17. The transaction was disclosed in a filing with the SEC, which is available through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the transaction, the chief executive officer now owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the sale, the chief executive officer now directly owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,622 shares of company stock worth $4,319,914. Company insiders own 0.42% of the company’s stock.

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.