Clearstead Trust LLC Lowers Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Clearstead Trust LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 20.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 356 shares of the financial services provider’s stock after selling 90 shares during the quarter. Clearstead Trust LLC’s holdings in The PNC Financial Services Group were worth $55,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNC. FMR LLC increased its stake in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after buying an additional 893,808 shares during the period. International Assets Investment Management LLC increased its holdings in The PNC Financial Services Group by 15,539.2% during the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after purchasing an additional 639,903 shares during the period. Invesco Ltd. increased its holdings in 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 valued at $634,024,000 after purchasing an additional 484,475 shares during the period. Envestnet Asset Management Inc. raised its position in The PNC Financial Services Group by 44.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after purchasing an additional 477,367 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its position in shares of The PNC Financial Services Group by 601.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock worth $60,885,000 after buying an additional 337,105 shares during 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 news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were 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 directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.3 %

Shares of PNC traded up $0.54 during trading hours 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 PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The firm has a fifty day moving average price of $153.58 and a 200-day moving average price of $144.79. The stock has a market capitalization of $62.15 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.76 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its 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 firm had revenue of $5.15 billion for 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 business’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.98 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PNC. Morgan Stanley raised their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Evercore ISI dropped their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Jefferies Financial Group lowered their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reduced 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 report on Wednesday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average 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.