Beverly Hills Private Wealth LLC Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Beverly Hills Private Wealth LLC lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,423 shares of the financial services provider’s stock after selling 658 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $220,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PNC. OFI Invest Asset Management acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 2.0 %

PNC stock opened at $146.59 on Wednesday. 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 quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a market cap of $58.31 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.72 and a beta of 1.18. The company has a 50 day moving average of $151.82 and a two-hundred day moving average of $141.64.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.05 by $0.05. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.23%. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.

Analyst Ratings Changes

Several research firms recently weighed in on PNC. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. UBS Group increased their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $157.10.

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.