Northern Financial Advisors Inc Sells 310 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Northern Financial Advisors Inc lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,006 shares of the financial services provider’s stock after selling 310 shares during the period. Northern Financial Advisors Inc’s holdings in The PNC Financial Services Group were worth $311,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. FMR LLC lifted its position in shares of The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after acquiring an additional 893,808 shares in the last quarter. International Assets Investment Management LLC raised its position in The PNC Financial Services Group by 15,539.2% during the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after purchasing an additional 639,903 shares during the last quarter. Invesco Ltd. boosted its holdings in The PNC Financial Services Group by 10.4% in the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after acquiring an additional 484,475 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of The PNC Financial Services Group by 44.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after buying an additional 477,367 shares during the period. Finally, Anchor Capital Advisors LLC raised its position in shares of The PNC Financial Services Group by 601.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock worth $60,885,000 after acquiring an additional 337,105 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.5 %

Shares of PNC stock traded up $0.72 during mid-day trading on Wednesday, hitting $156.87. 391,274 shares of the company’s stock were exchanged, compared to its average volume of 2,028,670. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market cap of $62.40 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.77 and a beta of 1.16. The stock has a 50-day simple moving average of $154.02 and a two-hundred day simple moving average of $145.39. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The company 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 PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.98 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.95%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent research reports. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Evercore ISI cut their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, Jefferies Financial Group decreased their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $157.02.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company 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.