First City Capital Management Inc. Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

First City Capital Management Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,467 shares of the financial services provider’s stock after selling 70 shares during the period. First City Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. increased its stake in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $33,000. Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $51,000. Quarry LP increased its stake in shares of The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 170 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of The PNC Financial Services Group by 231.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 220 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the completion of the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at $101,241,065. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,030 shares of company stock worth $5,916,453 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Barclays raised their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $200.81.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $2.57 during mid-day trading on Friday, hitting $193.96. 518,451 shares of the stock traded hands, compared to its average volume of 1,127,346. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The firm has a market cap of $76.96 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.15. The company’s 50-day simple moving average is $200.78 and its 200-day simple moving average is $183.86. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.60 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.30%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

About The PNC Financial Services Group

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.