Wright Investors Service Inc. Has $511,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wright Investors Service Inc. cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,909 shares of the financial services provider’s stock after selling 285 shares during the period. Wright Investors Service Inc.’s holdings in The PNC Financial Services Group were worth $511,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares in the last quarter. Foundations Investment Advisors LLC grew its position in The PNC Financial Services Group by 12.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,742 shares of the financial services provider’s stock worth $336,000 after buying an additional 198 shares in the last quarter. Foster & Motley Inc. grew its position in The PNC Financial Services Group by 50.8% during the fourth quarter. Foster & Motley Inc. now owns 2,489 shares of the financial services provider’s stock worth $480,000 after buying an additional 838 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Finally, OLD National Bancorp IN grew its position in The PNC Financial Services Group by 5.1% during the fourth quarter. OLD National Bancorp IN now owns 3,535 shares of the financial services provider’s stock worth $682,000 after buying an additional 171 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley reduced their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Keefe, Bruyette & Woods reduced their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 16th. Barclays reduced their price target 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. Finally, Royal Bank of Canada cut their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

Insider Activity

In related news, EVP Kieran John Fallon sold 1,492 shares of the 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 completion of the sale, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $178.83, for a total value of $222,106.86. Following the completion of the sale, the chief executive officer now owns 568,541 shares of the company’s stock, valued at $101,672,187.03. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,396 shares of company stock worth $2,747,698. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Down 0.7%

Shares of PNC opened at $173.86 on Friday. 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 capitalization of $68.77 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $165.07 and a 200-day moving average of $184.48.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal 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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

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.