Prospera Financial Services Inc Sells 6,243 Shares of The PNC Financial Services Group, Inc $PNC

Prospera Financial Services Inc lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 12.5% during the fourth quarter, Holdings Channel reports. The fund owned 43,806 shares of the financial services provider’s stock after selling 6,243 shares during the period. Prospera Financial Services Inc’s holdings in The PNC Financial Services Group were worth $9,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cvfg LLC grew its holdings in The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after buying an additional 43 shares in the last quarter. YANKCOM Partnership grew its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after buying an additional 46 shares in the last quarter. Westfuller Advisors LLC grew its holdings in The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after buying an additional 46 shares in the last quarter. Flavin Financial Services Inc. grew its holdings in The PNC Financial Services Group by 0.4% in the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock valued at $2,847,000 after buying an additional 48 shares in the last quarter. Finally, Almanack Investment Partners LLC. grew its holdings in The PNC Financial Services Group by 2.2% in the 4th quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider’s stock valued at $490,000 after buying an additional 50 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Citigroup upped their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. Oppenheimer upped their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. Finally, Morgan Stanley upped their price objective on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Stock Performance

PNC opened at $219.50 on Monday. The firm has a market cap of $88.14 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The PNC Financial Services Group, Inc has a 52-week low of $169.32 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The business’s fifty day moving average is $214.39 and its 200-day moving average is $211.95.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The PNC Financial Services Group’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.51 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.