Collective Family Office LLC Reduces Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Collective Family Office LLC lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,691 shares of the financial services provider’s stock after selling 376 shares during the quarter. Collective Family Office LLC’s holdings in The PNC Financial Services Group were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $28,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Finally, Core Wealth Advisors Inc. purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $153.16 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a market cap of $60.94 billion, a P/E ratio of 12.86, a PEG ratio of 2.20 and a beta of 1.16. The stock has a fifty day moving average price of $154.68 and a 200 day moving average price of $152.28. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick 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 PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the business posted $3.98 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.05%. The PNC Financial Services Group’s payout ratio is 52.06%.

Analyst Ratings Changes

Several analysts have commented on PNC shares. Evercore ISI lowered their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Bank of America lifted their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.83.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.42% of the company’s stock.

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.