Empire Life Investments Inc. Sells 1,541 Shares of PNC Financial Services Group Inc (PNC)

Empire Life Investments Inc. decreased its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 154,959 shares of the financial services provider’s stock after selling 1,541 shares during the quarter. PNC Financial Services Group makes up 1.7% of Empire Life Investments Inc.’s portfolio, making the stock its 23rd biggest position. Empire Life Investments Inc.’s holdings in PNC Financial Services Group were worth $20,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNC. Proficio Capital Partners LLC raised its stake in PNC Financial Services Group by 1,365.4% during the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after buying an additional 710 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in PNC Financial Services Group by 12.5% during the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after buying an additional 91 shares in the last quarter. First Interstate Bank raised its stake in PNC Financial Services Group by 2.6% during the second quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock valued at $123,000 after buying an additional 25 shares in the last quarter. Atlantic Trust LLC acquired a new stake in PNC Financial Services Group during the second quarter valued at approximately $129,000. Finally, Legacy Advisors LLC bought a new position in shares of PNC Financial Services Group during the third quarter valued at approximately $136,000. Hedge funds and other institutional investors own 81.57% of the company’s stock.

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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider E William Parsley III sold 46,307 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $143.43, for a total value of $6,641,813.01. Following the sale, the insider now owns 132,544 shares of the company’s stock, valued at approximately $19,010,785.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,947 shares of company stock valued at $12,543,665. 0.43% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $151.00 target price on shares of PNC Financial Services Group in a report on Monday, December 4th. J P Morgan Chase & Co upped their target price on PNC Financial Services Group from $139.50 to $140.50 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Zacks Investment Research raised PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a report on Tuesday, October 31st. Nomura upped their target price on PNC Financial Services Group from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Finally, Wells Fargo & Company set a $135.00 target price on PNC Financial Services Group and gave the company a “hold” rating in a report on Thursday, October 19th. Sixteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $136.13.

Shares of PNC Financial Services Group Inc (PNC) traded up $1.98 during midday trading on Friday, reaching $144.95. The company’s stock had a trading volume of 3,264,947 shares, compared to its average volume of 1,810,000. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The company has a market cap of $68,970.00, a price-to-earnings ratio of 17.70, a P/E/G ratio of 1.93 and a beta of 0.90. PNC Financial Services Group Inc has a 52-week low of $113.66 and a 52-week high of $146.24.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. analysts predict that PNC Financial Services Group Inc will post 8.44 EPS for the current year.

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PNC Financial Services Group Profile

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 (NYSE:PNC)

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