The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 21.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,723 shares of the financial services provider’s stock after selling 1,265 shares during the period. Fisher Asset Management LLC’s holdings in The PNC Financial Services Group were worth $731,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PNC. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $26,000. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $28,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in The PNC Financial Services Group by 350.0% during 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 purchasing an additional 140 shares during the period. Finally, Core Wealth Advisors Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $31,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on PNC shares. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Bank of America boosted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, Evercore ISI dropped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $157.83.

The PNC Financial Services Group Stock Up 0.0 %

PNC stock opened at $153.20 on Monday. 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 firm has a market cap of $60.96 billion, a PE ratio of 12.86, a P/E/G ratio of 2.18 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The firm has a 50 day simple moving average of $154.73 and a 200 day simple moving average of $152.55.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The business 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 net margin of 16.05% and a return on equity of 11.64%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.98 EPS. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given 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 dividend payout ratio (DPR) is presently 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 approximately $545,856.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.