Colony Group LLC Sells 35199 Shares of PNC Financial Services Group, Inc. (The) (PNC) – The Ledger Gazette


Colony Group LLC cut its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 22.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,866 shares of the financial services provider’s stock after selling 35,199 shares during the quarter. PNC Financial Services Group, Inc. (The) comprises 1.1% of Colony Group LLC’s portfolio, making the stock its 21st largest position. Colony Group LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $15,093,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Koch Industries Inc. raised its holdings in PNC Financial Services Group, Inc. (The) by 78,828.1% in the second quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,348,748 shares during the period. National Asset Management Inc. raised its holdings in PNC Financial Services Group, Inc. (The) by 11.0% in the second quarter. National Asset Management Inc. now owns 4,140 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 409 shares during the period. Seminole Management Co. Inc. acquired a new stake in PNC Financial Services Group, Inc. (The) in the second quarter worth $1,498,000. Sterling Capital Management LLC raised its holdings in shares of PNC Financial Services Group, Inc. (The) by 1.3% during the second quarter. Sterling Capital Management LLC now owns 118,774 shares of the financial services provider’s stock worth $14,831,000 after acquiring an additional 1,565 shares during the period. Finally, BB&T Investment Services Inc. acquired a new stake in shares of PNC Financial Services Group, Inc. (The) during the second quarter worth $478,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on PNC shares. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Instinet decreased their target price on shares of PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, June 30th. UBS AG raised their target price on shares of PNC Financial Services Group, Inc. (The) from $133.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, October 16th. Wells Fargo & Company set a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) and gave the company a “hold” rating in a research report on Thursday, October 19th. Finally, Royal Bank Of Canada raised their target price on shares of PNC Financial Services Group, Inc. (The) from $130.00 to $145.00 and gave the company a “top pick” rating in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. PNC Financial Services Group, Inc. (The) currently has a consensus rating of “Hold” and an average price target of $133.85.

PNC Financial Services Group, Inc. (NYSE PNC) traded up 0.23% during midday trading on Friday, hitting $138.17. 1,198,528 shares of the stock were exchanged. PNC Financial Services Group, Inc. has a 1-year low of $94.30 and a 1-year high of $139.23. The stock has a market cap of $65.77 billion, a PE ratio of 16.90 and a beta of 0.95. The company’s 50 day moving average is $133.38 and its 200-day moving average is $126.33.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.03. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the firm posted $1.84 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, analysts expect that PNC Financial Services Group, Inc. will post $8.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, October 16th. This represents a $3.00 dividend on an annualized basis and a yield of 2.17%. PNC Financial Services Group, Inc. (The)’s payout ratio is 36.63%.

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In other news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.43% of the company’s stock.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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