The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 35.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 595 shares of the financial services provider’s stock after selling 325 shares during the period. Legend Financial Advisors Inc.’s holdings in The PNC Financial Services Group were worth $96,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Rockline Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $1,825,000. KPP Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the third quarter worth about $323,000. AQR Capital Management LLC increased its position in The PNC Financial Services Group by 144.2% during the third 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. acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $295,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 2.3 %

The PNC Financial Services Group stock traded up $3.55 during trading on Friday, reaching $155.48. The stock had a trading volume of 2,706,290 shares, compared to its average volume of 1,482,709. The stock has a market cap of $61.87 billion, a PE ratio of 13.05, a P/E/G ratio of 2.22 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The business has a 50 day moving average price of $155.18 and a 200 day moving average price of $152.91.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The business 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 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 EPS. On average, analysts predict that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued 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 3.99%. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. dropped their price target 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 report on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Bank of America lifted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Finally, StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $158.43.

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.