Caerus Investment Advisors LLC Lowers Stock Holdings in The PNC Financial Services Group, Inc $PNC

Caerus Investment Advisors LLC decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 47.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,698 shares of the financial services provider’s stock after selling 3,309 shares during the period. Caerus Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $772,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PNC. Quarry LP purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $25,000. Modus Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $29,000. Beacon Financial Strategies CORP purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $35,000. JPL Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $37,000. Finally, Financial Life Planners purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $39,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PNC. Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Barclays lifted their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $243.11.

The PNC Financial Services Group Price Performance

PNC stock opened at $234.12 on Friday. The firm’s 50-day moving average price is $220.29 and its two-hundred day moving average price is $215.95. The PNC Financial Services Group, Inc has a 12-month low of $172.73 and a 12-month high of $243.94. The stock has a market capitalization of $94.02 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.96 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the company earned $3.51 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is currently owned by insiders.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.