Valley National Advisers Inc. Cuts Position in PNC Financial Services Group Inc (PNC)

Valley National Advisers Inc. reduced its position in PNC Financial Services Group Inc (NYSE:PNC) by 19.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,492 shares of the financial services provider’s stock after selling 839 shares during the period. Valley National Advisers Inc.’s holdings in PNC Financial Services Group were worth $428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Martingale Asset Management L P raised its position in PNC Financial Services Group by 3.3% in the third quarter. Martingale Asset Management L P now owns 22,319 shares of the financial services provider’s stock valued at $3,040,000 after purchasing an additional 707 shares during the period. Kentucky Retirement Systems purchased a new stake in shares of PNC Financial Services Group during the third quarter worth about $3,408,000. Neuberger Berman Group LLC increased its position in shares of PNC Financial Services Group by 4.0% during the third quarter. Neuberger Berman Group LLC now owns 1,404,435 shares of the financial services provider’s stock worth $191,270,000 after acquiring an additional 53,775 shares during the last quarter. Teachers Advisors LLC increased its position in shares of PNC Financial Services Group by 0.6% during the third quarter. Teachers Advisors LLC now owns 1,235,622 shares of the financial services provider’s stock worth $168,279,000 after acquiring an additional 6,913 shares during the last quarter. Finally, B. Riley Wealth Management Inc. purchased a new stake in shares of PNC Financial Services Group during the third quarter worth about $224,000. 82.25% of the stock is currently owned by institutional investors and hedge funds.

NYSE:PNC opened at $136.09 on Monday. The stock has a market capitalization of $61.73 billion, a P/E ratio of 12.71, a PEG ratio of 1.58 and a beta of 1.05. PNC Financial Services Group Inc has a one year low of $108.45 and a one year high of $152.29. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.91 and a quick ratio of 0.90.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $2.61. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.24 billion. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. During the same period last year, the firm earned $2.43 earnings per share. On average, analysts predict that PNC Financial Services Group Inc will post 11.34 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Tuesday, April 16th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.80 dividend on an annualized basis and a yield of 2.79%. PNC Financial Services Group’s dividend payout ratio (DPR) is 35.48%.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 12,361 shares of PNC Financial Services Group stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $122.50, for a total value of $1,514,222.50. Following the completion of the transaction, the executive vice president now directly owns 118,671 shares in the company, valued at $14,537,197.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff bought 500 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was bought at an average price of $125.69 per share, with a total value of $62,845.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on PNC. Goldman Sachs Group lowered PNC Financial Services Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $154.00 to $144.00 in a research report on Monday, January 7th. Barclays lifted their target price on PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Morgan Stanley lifted their target price on PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Macquarie raised PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a research report on Wednesday, March 6th. Finally, Deutsche Bank lowered PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $123.89 target price on the stock. in a research report on Friday, January 25th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $145.66.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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