Western Wealth Management LLC Sells 244 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Western Wealth Management LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,678 shares of the financial services provider’s stock after selling 244 shares during the period. Western Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PNC shares. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Bank of America boosted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, Evercore ISI cut their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $156.63.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, 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 at the SEC website. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 2.4 %

Shares of PNC stock opened at $155.93 on Tuesday. The company’s fifty day simple moving average is $152.03 and its two-hundred day simple moving average is $142.51. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The stock has a market capitalization of $62.03 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results 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 net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.98%. The PNC Financial Services Group’s payout ratio is currently 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.