Sabal Trust CO Purchases 821 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Sabal Trust CO increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,518 shares of the financial services provider’s stock after purchasing an additional 821 shares during the period. The PNC Financial Services Group accounts for 1.7% of Sabal Trust CO’s portfolio, making the stock its 21st largest holding. Sabal Trust CO’s holdings in The PNC Financial Services Group were worth $30,675,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $32,000. Whipplewood Advisors LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group during the 1st quarter valued at approximately $35,000. REAP Financial Group LLC lifted its holdings in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, Hoey Investments Inc. bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PNC shares. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. The Goldman Sachs Group reduced their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday, April 16th. Citigroup reduced their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Barclays decreased their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.67.

The PNC Financial Services Group Price Performance

PNC opened at $182.55 on Thursday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The stock has a market cap of $72.21 billion, a P/E ratio of 12.89, a PEG ratio of 1.53 and a beta of 1.06. The business has a fifty day moving average of $170.79 and a 200 day moving average of $180.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.51%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total transaction of $96,160.00. Following the transaction, the chief executive officer now directly owns 563,573 shares of the company’s stock, valued at $90,171,680. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,670 shares of company stock worth $2,099,398 over the last three months. 0.41% of the stock is owned by corporate insiders.

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.