The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Lowered by Quadrature Capital Ltd

Quadrature Capital Ltd trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 78.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,097 shares of the financial services provider’s stock after selling 80,416 shares during the period. Quadrature Capital Ltd’s holdings in The PNC Financial Services Group were worth $3,423,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Livelsberger Financial Advisory acquired a new position in The PNC Financial Services Group during the fourth quarter valued at $95,000. Grayhawk Investment Strategies Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter valued at $1,200,000. SageView Advisory Group LLC raised its position in The PNC Financial Services Group by 125.4% during the fourth quarter. SageView Advisory Group LLC now owns 9,030 shares of the financial services provider’s stock valued at $1,393,000 after buying an additional 5,023 shares during the period. Tucker Asset Management LLC raised its position in The PNC Financial Services Group by 55.6% during the fourth quarter. Tucker Asset Management LLC now owns 1,807 shares of the financial services provider’s stock valued at $280,000 after buying an additional 646 shares during the period. Finally, Fortis Group Advisors LLC raised its position in The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after buying an additional 100 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Evercore ISI dropped their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $157.83.

The PNC Financial Services Group Stock Performance

PNC opened at $154.48 on Wednesday. The company has a market cap of $61.47 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 2.94 and a beta of 1.16. The stock has a 50-day moving average of $154.71 and a 200-day moving average of $152.26. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.98 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.01%. The PNC Financial Services Group’s payout ratio is 52.06%.

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.