Patton Albertson Miller Group LLC Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Patton Albertson Miller Group LLC lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,470 shares of the financial services provider’s stock after selling 570 shares during the period. Patton Albertson Miller Group LLC’s holdings in The PNC Financial Services Group were worth $382,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisor Partners II LLC grew its position in shares of The PNC Financial Services Group by 16.5% during the 3rd quarter. Advisor Partners II LLC now owns 17,844 shares of the financial services provider’s stock valued at $2,191,000 after buying an additional 2,523 shares during the last quarter. Keel Point LLC grew its holdings in shares of The PNC Financial Services Group by 9.2% during the third quarter. Keel Point LLC now owns 1,833 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 154 shares during the last quarter. CENTRAL TRUST Co grew its holdings in shares of The PNC Financial Services Group by 5.4% during the third quarter. CENTRAL TRUST Co now owns 13,196 shares of the financial services provider’s stock valued at $1,620,000 after purchasing an additional 674 shares during the last quarter. AustralianSuper Pty Ltd raised its position in shares of The PNC Financial Services Group by 9.5% during the 3rd quarter. AustralianSuper Pty Ltd now owns 40,188 shares of the financial services provider’s stock worth $4,934,000 after purchasing an additional 3,483 shares during the period. Finally, Gradient Investments LLC lifted its holdings in shares of The PNC Financial Services Group by 59.9% in the 3rd quarter. Gradient Investments LLC now owns 635 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 238 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.1 %

Shares of NYSE PNC traded down $0.09 during mid-day trading on Thursday, reaching $157.12. The company had a trading volume of 1,558,629 shares, compared to its average volume of 2,033,352. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The stock’s 50 day moving average is $154.25 and its 200-day moving average is $145.47. 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 stock has a market capitalization of $62.50 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (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 analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.98 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNC. Jefferies Financial Group lowered their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Evercore ISI cut their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Bank of America raised their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. UBS Group boosted their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Finally, StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $157.02.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’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 sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

About The PNC Financial Services Group

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.