The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by West Paces Advisors Inc.

West Paces Advisors Inc. lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,978 shares of the financial services provider’s stock after selling 521 shares during the quarter. West Paces Advisors Inc.’s holdings in The PNC Financial Services Group were worth $966,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PNC. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC grew its holdings 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 worth $28,000 after acquiring an additional 140 shares during the last quarter. Finally, Core Wealth Advisors Inc. acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were 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 of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group 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 sale, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 0.1 %

Shares of The PNC Financial Services Group stock traded down $0.09 during trading on Wednesday, hitting $151.81. The company’s stock had a trading volume of 1,842,262 shares, compared to its average volume of 1,900,649. 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 stock has a market cap of $60.41 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The stock has a 50-day moving average price of $154.95 and a two-hundred day moving average price of $152.74. 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 issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business 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 business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.98 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid 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 4.08%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target 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. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. 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 research report on Wednesday, April 17th. The Goldman Sachs Group raised their price objective on 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, JPMorgan Chase & Co. cut their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $158.43.

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.