The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,754 shares of the financial services provider’s stock after selling 206 shares during the period. Desjardins Global Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PNC. OFI Invest Asset Management purchased a new position in The PNC Financial Services Group in the third quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in shares of 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 valued at $28,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now 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 corporate insiders.

Wall Street Analyst Weigh In

PNC has been the topic of a number of analyst reports. Bank of America lifted 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 note on Wednesday. Jefferies Financial Group dropped their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $156.63.

The PNC Financial Services Group Stock Up 0.4 %

Shares of NYSE:PNC opened at $147.82 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $151.80 and a 200 day simple moving average of $141.72. The firm has a market cap of $58.80 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released 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 firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 earnings per share. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.47 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

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.