The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Trimmed by Carret Asset Management LLC

Carret Asset Management LLC lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,985 shares of the financial services provider’s stock after selling 95 shares during the period. Carret Asset Management LLC’s holdings in The PNC Financial Services Group were worth $4,684,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Rockline Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $1,825,000. KPP Advisory Services LLC bought a new stake in The PNC Financial Services Group during the 3rd quarter valued at $323,000. AQR Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 144.2% during the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after purchasing an additional 67,490 shares during the period. Trust Point Inc. bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in The PNC Financial Services Group in the fourth quarter worth about $295,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold a total of 2,132 shares of company stock worth $328,809 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.7 %

NYSE:PNC traded down $1.05 during trading hours on Wednesday, hitting $157.79. 912,058 shares of the company’s stock traded hands, compared to its average volume of 1,885,161. The stock’s fifty day moving average price is $155.21 and its two-hundred day moving average price is $153.02. The firm has a market cap of $62.79 billion, a P/E ratio of 13.33, a P/E/G ratio of 2.22 and a beta of 1.15. 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, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the firm earned $3.98 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group boosted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America lifted their target price on 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 target 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $158.56.

The PNC Financial Services Group 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.