WASHINGTON TRUST Co Sells 349 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

WASHINGTON TRUST Co reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,436 shares of the financial services provider’s stock after selling 349 shares during the period. WASHINGTON TRUST Co’s holdings in The PNC Financial Services Group were worth $1,151,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $735,469,000. Moneta Group Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 122,771.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after purchasing an additional 2,538,916 shares during the period. Morgan Stanley increased its stake in The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after acquiring an additional 1,045,055 shares during the last quarter. FMR LLC increased its stake in The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after acquiring an additional 893,808 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after acquiring an additional 860,489 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC traded up $1.49 during mid-day trading on Thursday, reaching $161.46. 631,105 shares of the stock were exchanged, compared to its average volume of 2,218,443. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $64.23 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.79 and a beta of 1.17. The business’s 50 day moving average is $149.73 and its 200-day moving average is $138.10. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $161.69.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.49 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.4 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were issued a $1.55 dividend. The ex-dividend date was Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.84%. The PNC Financial Services Group’s payout ratio is 48.48%.

Insider Activity

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 transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, January 3rd. Odeon Capital Group upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective for the company in a report on Thursday, December 14th. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research note on Tuesday, December 19th. Finally, Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $152.87.

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.