The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Cut by Fulton Bank N.A.

Fulton Bank N.A. reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,885 shares of the financial services provider’s stock after selling 3,026 shares during the quarter. Fulton Bank N.A.’s holdings in The PNC Financial Services Group were worth $4,413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Legend Financial Advisors Inc. lifted its stake in The PNC Financial Services Group by 25.0% in the 4th quarter. Legend Financial Advisors Inc. now owns 744 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 149 shares in the last quarter. One Wealth Capital Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $202,000. Fortem Financial Group LLC lifted its stake in shares of The PNC Financial Services Group by 1.6% in the fourth quarter. Fortem Financial Group LLC now owns 7,329 shares of the financial services provider’s stock valued at $1,413,000 after buying an additional 114 shares during the period. Neville Rodie & Shaw Inc. lifted its position in The PNC Financial Services Group by 1.9% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 8,077 shares of the financial services provider’s stock worth $1,558,000 after purchasing an additional 150 shares during the period. Finally, Nordea Investment Management AB lifted its stake in The PNC Financial Services Group by 6.3% during the fourth quarter. Nordea Investment Management AB now owns 32,538 shares of the financial services provider’s stock worth $6,283,000 after purchasing an additional 1,930 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 other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,272 shares of company stock worth $6,155,103. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PNC shares. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two 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. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $203.29.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $0.59 during mid-day trading on Wednesday, hitting $194.18. The stock had a trading volume of 666,786 shares, compared to its average volume of 1,820,848. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The stock has a market cap of $77.05 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 2.11 and a beta of 1.16. The company’s 50 day simple moving average is $201.22 and its 200 day simple moving average is $185.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.60 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

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.