Financial Advocates Investment Management Sells 201 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Financial Advocates Investment Management reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,704 shares of the financial services provider’s stock after selling 201 shares during the quarter. Financial Advocates Investment Management’s holdings in The PNC Financial Services Group were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. boosted its holdings in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Valley Wealth Managers Inc. lifted its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $200.80 on Monday. The stock has a 50 day simple moving average of $198.40 and a 200 day simple moving average of $190.53. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-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 firm has a market capitalization of $79.67 billion, a PE ratio of 14.60, a P/E/G ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company earned $3.16 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PNC shares. Barclays increased their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Compass Point increased their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $205.00.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 14,904 shares of company stock worth $2,989,034. 0.42% of the stock is owned by insiders.

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.