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

Cwm LLC lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,407 shares of the financial services provider’s stock after selling 286 shares during the quarter. Cwm LLC’s holdings in The PNC Financial Services Group were worth $1,921,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rockline Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $1,825,000. KPP Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the third quarter worth about $323,000. AQR Capital Management LLC grew its holdings in The PNC Financial Services Group by 144.2% during the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after acquiring an additional 67,490 shares during the period. Trust Point Inc. acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $295,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $156.30 on Friday. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a market cap of $62.18 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.79 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50 day moving average price is $152.61 and its 200 day moving average price is $142.97.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the business posted $3.98 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given 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 yield of 3.97%. The PNC Financial Services Group’s payout ratio is 52.06%.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Jefferies Financial Group lowered their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Morgan Stanley increased their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Bank of America increased their price target on 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. Finally, StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $156.63.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available 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.