Prosperity Wealth Management Inc. Sells 111 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Prosperity Wealth Management Inc. cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841 shares of the financial services provider’s stock after selling 111 shares during the period. Prosperity Wealth Management Inc.’s holdings in The PNC Financial Services Group were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Norges Bank bought a new position in The PNC Financial Services Group in the 4th quarter worth $735,469,000. Moneta Group Investment Advisors LLC boosted its stake 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 acquiring an additional 2,538,916 shares during the period. Morgan Stanley grew its position in shares of The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after purchasing an additional 1,045,055 shares in the last quarter. FMR LLC raised its stake in The PNC Financial Services Group by 6.7% during the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in The PNC Financial Services Group by 7.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after purchasing an additional 860,489 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 2.0 %

NYSE:PNC traded down $3.02 during midday trading on Wednesday, hitting $146.54. 3,350,292 shares of the company traded hands, compared to its average volume of 1,563,898. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The firm’s fifty day moving average is $151.82 and its 200-day moving average is $141.64. The firm has a market capitalization of $58.30 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.72 and a beta of 1.18.

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 for the quarter, beating analysts’ consensus estimates of $3.05 by $0.05. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $3.98 EPS. The company’s revenue was down 8.2% on a year-over-year basis. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group 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 completion of the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI increased their price objective 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, March 28th. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods boosted their price target 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. UBS Group raised their price objective on 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. Finally, Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $157.10.

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.