Graypoint LLC Sells 386 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Graypoint LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,522 shares of the financial services provider’s stock after selling 386 shares during the quarter. Graypoint LLC’s holdings in The PNC Financial Services Group were worth $391,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in The PNC Financial Services Group by 6.7% in 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. T. Rowe Price Investment Management Inc. grew its stake in shares of The PNC Financial Services Group by 7.0% during 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 acquiring an additional 860,489 shares during the period. Geode Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock worth $915,146,000 after acquiring an additional 171,876 shares during the period. Invesco Ltd. grew its stake in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after acquiring an additional 484,475 shares during the period. Finally, Northern Trust Corp lifted its holdings in The PNC Financial Services Group by 2.0% during the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock worth $577,267,000 after purchasing an additional 93,636 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Down 2.2 %

PNC opened at $150.63 on Monday. The business has a 50 day moving average of $151.80 and a 200-day moving average of $141.29. The stock has a market cap of $59.92 billion, a PE ratio of 11.78, a PEG ratio of 1.73 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 quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.49 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders 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 yield of 4.12%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s payout ratio is 48.48%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley increased their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Jefferies Financial Group raised their price target on The PNC Financial Services Group from $164.00 to $171.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.