J. W. Coons Advisors LLC Sells 249 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

J. W. Coons Advisors LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,321 shares of the financial services provider’s stock after selling 249 shares during the period. J. W. Coons Advisors LLC’s holdings in The PNC Financial Services Group were worth $979,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Rockline Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $1,825,000. KPP Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $323,000. AQR Capital Management LLC boosted 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 period. Trust Point Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $295,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. Evercore ISI cut their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Bank of America upped their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. The Goldman Sachs Group lifted their price objective on 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. Finally, JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $157.02.

Get Our Latest Report on PNC

The PNC Financial Services Group Stock Up 0.6 %

Shares of NYSE:PNC opened at $155.88 on Friday. The stock has a market capitalization of $62.03 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 2.98 and a beta of 1.16. The stock’s 50-day moving average price is $155.62 and its 200-day moving average price is $150.91. The company has a current ratio of 0.85, a quick ratio of 0.85 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 PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period last year, the company earned $3.98 EPS. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.98%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

The PNC Financial Services Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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