Cullen Capital Management LLC Sells 176 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Cullen Capital Management LLC decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,706 shares of the financial services provider’s stock after selling 176 shares during the period. Cullen Capital Management LLC’s holdings in The PNC Financial Services Group were worth $3,415,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PNC. Vanguard Group Inc. grew its position in The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock valued at $7,273,794,000 after acquiring an additional 268,827 shares during the last quarter. State Street Corp grew its holdings in shares of The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares during the last quarter. Franklin Resources Inc. increased its position in The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after purchasing an additional 549,278 shares in the last quarter. Geode Capital Management LLC lifted its stake in The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after purchasing an additional 166,138 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after buying an additional 726,115 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $174.78, for a total transaction of $217,076.76. Following the transaction, the chief executive officer now directly owns 564,815 shares of the company’s stock, valued at $98,718,365.70. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 12,420 shares of company stock valued at $2,320,739. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company lowered their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $205.18.

The PNC Financial Services Group Trading Down 5.2 %

Shares of PNC stock opened at $152.85 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day simple moving average of $184.93 and a two-hundred day simple moving average of $191.66. The company has a market cap of $60.49 billion, a P/E ratio of 11.12, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.16 EPS. Research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.