Avior Wealth Management LLC Sells 379 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Avior Wealth Management LLC trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,153 shares of the financial services provider’s stock after selling 379 shares during the quarter. Avior Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $798,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Rockline Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $1,825,000. KPP Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the third quarter valued at about $323,000. AQR Capital Management LLC raised its holdings in The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares during the last quarter. Trust Point Inc. bought a new stake in The PNC Financial Services Group during the 4th quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $295,000. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In other news, 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 transaction 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 document filed with the SEC, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PNC shares. Morgan Stanley boosted their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. 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. Finally, Evercore ISI decreased their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.46.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $147.25 on Thursday. 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 0.85. The stock has a 50 day simple moving average of $151.80 and a 200 day simple moving average of $141.68. The firm has a market capitalization of $58.58 billion, a PE ratio of 12.36, a P/E/G ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm posted $3.98 EPS. The business’s revenue was down 8.2% on a year-over-year basis. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business 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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

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.