Sentry Investment Management LLC Sells 1,756 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sentry Investment Management LLC decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 75.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 557 shares of the financial services provider’s stock after selling 1,756 shares during the quarter. Sentry Investment Management LLC’s holdings in The PNC Financial Services Group were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNC. Rockline Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $1,825,000. KPP Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $323,000. AQR Capital Management LLC grew its position in shares of 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 valued at $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $295,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4 %

PNC opened at $147.82 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85. The stock’s 50 day moving average price is $151.80 and its 200-day moving average price is $141.72. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The stock has a market cap of $58.80 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business earned $3.98 EPS. The PNC Financial Services Group’s revenue was down 8.2% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.47 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research reports. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Bank of America increased their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday. Evercore ISI reduced their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $156.63.

Insider Activity at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company 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.