EP Wealth Advisors LLC Decreases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

EP Wealth Advisors LLC lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,621 shares of the financial services provider’s stock after selling 498 shares during the period. EP Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $541,000. AssuredPartners Investment Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $739,000. Premier Fund Managers Ltd grew its position in shares of The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after acquiring an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank of Canada decreased their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price objective for the company from $206.00 to $202.00 in a report on Monday, March 31st. Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $200.88.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director now directly owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. The trade was a 99.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the sale, the chief executive officer now owns 571,025 shares of the company’s stock, valued at approximately $109,893,761.25. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,662 shares of company stock valued at $2,322,006 over the last 90 days. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $166.44 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $65.84 billion, a P/E ratio of 12.10, a PEG ratio of 1.55 and a beta of 1.06. The business’s 50-day moving average price is $164.74 and its two-hundred day moving average price is $186.57.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.85%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

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.