The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.4% in the 4th quarter, HoldingsChannel reports. The firm owned 11,223 shares of the financial services provider’s stock after selling 1,887 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $1,738,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. National Pension Service lifted its holdings in The PNC Financial Services Group by 2.6% in the 4th quarter. National Pension Service now owns 802,833 shares of the financial services provider’s stock valued at $124,319,000 after acquiring an additional 20,689 shares during the last quarter. RMR Wealth Builders grew its position in The PNC Financial Services Group by 1.2% in the fourth quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock worth $1,016,000 after buying an additional 79 shares during the last quarter. Everpar Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $1,097,000. Gryphon Financial Partners LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $228,000. Finally, Barlow Wealth Partners Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $1,575,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. 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. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Finally, Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $157.02.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded up $1.09 during mid-day trading on Wednesday, hitting $157.24. 1,254,443 shares of the company traded hands, compared to its average volume of 2,038,685. The stock has a fifty day moving average price of $154.02 and a 200-day moving average price of $145.39. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year 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 stock has a market cap of $62.55 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the firm earned $3.98 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. On average, equities analysts predict 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 business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.94%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Activity at The PNC Financial Services Group

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

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.