Royal Fund Management LLC Sells 300 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Royal Fund Management LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,376 shares of the financial services provider’s stock after selling 300 shares during the quarter. Royal Fund Management LLC’s holdings in The PNC Financial Services Group were worth $368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group during the 4th quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $28,000. Finally, Criterion Capital Advisors LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $0.54 during trading on Friday, hitting $156.22. The company had a trading volume of 1,141,551 shares, compared to its average volume of 1,722,543. 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 stock’s 50-day moving average is $153.58 and its two-hundred day moving average is $144.41. The stock has a market capitalization of $62.15 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted 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 company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.98 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on PNC. Evercore ISI cut 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 report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. 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 company a “neutral” rating in a report on Monday, April 1st. Finally, UBS Group upped their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $157.02.

The PNC Financial Services Group Company 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.