Flputnam Investment Management Co. Sells 3,273 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Flputnam Investment Management Co. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,268 shares of the financial services provider’s stock after selling 3,273 shares during the period. Flputnam Investment Management Co.’s holdings in The PNC Financial Services Group were worth $2,364,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. 1832 Asset Management L.P. grew its position in The PNC Financial Services Group by 33.5% in the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 67 shares in the last quarter. Bangor Savings Bank grew its position in The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after acquiring an additional 69 shares in the last quarter. Caprock Group LLC grew its position in The PNC Financial Services Group by 0.9% in the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after acquiring an additional 79 shares in the last quarter. KCM Investment Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 7.1% in the first quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock worth $220,000 after buying an additional 79 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its stake in shares of The PNC Financial Services Group by 2.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 3,645 shares of the financial services provider’s stock worth $576,000 after buying an additional 82 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Jefferies Financial Group boosted their price objective on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an “underperform” rating in a research note on Friday, April 5th. Morgan Stanley boosted their price objective on shares of 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, UBS Group boosted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $157.10.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $146.59 on Wednesday. The company has a 50-day moving average of $151.82 and a 200-day moving average of $141.64. The company has a market capitalization of $58.31 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.72 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.05. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period last year, the firm earned $3.98 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 48.48%.

The PNC Financial Services Group 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.