The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,734 shares of the financial services provider’s stock after selling 296 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in The PNC Financial Services Group were worth $578,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its stake in The PNC Financial Services Group by 22.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 139,150 shares of the financial services provider’s stock valued at $17,083,000 after buying an additional 25,304 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in The PNC Financial Services Group by 10.6% during the third quarter. Stratos Wealth Advisors LLC now owns 3,445 shares of the financial services provider’s stock valued at $423,000 after buying an additional 329 shares in the last quarter. Forsta AP Fonden raised its stake in The PNC Financial Services Group by 4.5% during the third quarter. Forsta AP Fonden now owns 83,900 shares of the financial services provider’s stock valued at $10,300,000 after buying an additional 3,600 shares in the last quarter. Telemus Capital LLC raised its stake in The PNC Financial Services Group by 50.0% during the third quarter. Telemus Capital LLC now owns 14,570 shares of the financial services provider’s stock valued at $1,789,000 after buying an additional 4,854 shares in the last quarter. Finally, JB Capital LLC acquired a new stake in The PNC Financial Services Group during the third quarter valued at approximately $7,700,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PNC. Morgan Stanley upped their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $157.02.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $0.28 during trading on Tuesday, reaching $156.15. The company’s stock had a trading volume of 1,082,264 shares, compared to its average volume of 2,047,484. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The business’s fifty day moving average price is $153.82 and its 200-day moving average price is $145.08. The firm has a market cap of $62.12 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted 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 business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.98 earnings per share. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 in the company, valued at $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.42% of the company’s stock.

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.