Argyle Capital Management Inc. Sells 2,800 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Argyle Capital Management Inc. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,993 shares of the financial services provider’s stock after selling 2,800 shares during the period. The PNC Financial Services Group accounts for 2.1% of Argyle Capital Management Inc.’s holdings, making the stock its 10th largest position. Argyle Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $4,954,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PNC. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $25,000. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 0.1 %

Shares of The PNC Financial Services Group stock traded down $0.19 during trading on Friday, hitting $156.11. The company’s stock had a trading volume of 979,208 shares, compared to its average volume of 1,683,569. The stock has a market cap of $62.10 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The stock has a 50-day moving average price of $152.76 and a two-hundred day moving average price of $143.51.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $3.98 earnings per share. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.97%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Insider Buying and Selling

In related 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 transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Evercore ISI decreased their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley boosted their price target 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. Wells Fargo & Company lifted their target price 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. Bank of America increased 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. Finally, The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.63.

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.