Northeast Financial Group Inc. Sells 200 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Northeast Financial Group Inc. decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 6.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,837 shares of the financial services provider’s stock after selling 200 shares during the quarter. Northeast Financial Group Inc.’s holdings in The PNC Financial Services Group were worth $439,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Steph & Co. boosted its holdings in The PNC Financial Services Group by 1.8% during the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 67 shares during the last quarter. Bangor Savings Bank grew its holdings in shares of The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 69 shares in the last quarter. Oakworth Capital Inc. increased its position in shares of The PNC Financial Services Group by 11.7% during the fourth quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 75 shares during the last quarter. Caprock Group LLC lifted its holdings in The PNC Financial Services Group by 0.9% during the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after acquiring an additional 79 shares during the period. Finally, RMR Wealth Builders boosted its position in The PNC Financial Services Group by 1.2% in the fourth quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PNC. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Bank of America boosted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group lifted their price target on shares of 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. 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 report on Thursday, March 28th. Finally, Evercore ISI lowered their target price on 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $157.02.

Check Out Our Latest Research Report on The PNC Financial Services Group

Insider Activity at The PNC Financial Services Group

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

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $0.54 during midday trading on Friday, hitting $160.35. 1,075,124 shares of the company’s stock were exchanged, compared to its average volume of 1,421,350. The stock has a 50-day moving average price of $155.45 and a two-hundred day moving average price of $147.55. 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 market cap of $63.80 billion, a P/E ratio of 13.47, a PEG ratio of 1.82 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:PNCGet Free Report) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.19 billion. During the same period last year, the firm posted $3.98 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.87%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

The PNC Financial Services Group 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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