The PNC Financial Services Group, Inc $PNC Position Trimmed by Kaufman Rossin Wealth LLC

Kaufman Rossin Wealth LLC decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 72.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,346 shares of the financial services provider’s stock after selling 3,609 shares during the period. Kaufman Rossin Wealth LLC’s holdings in The PNC Financial Services Group were worth $280,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Intergy Private Wealth LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $3,364,000. Brookstone Capital Management boosted its stake in shares of The PNC Financial Services Group by 1.9% during the 1st quarter. Brookstone Capital Management now owns 8,254 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 151 shares during the period. Roble Belko & Company Inc grew its holdings in shares of The PNC Financial Services Group by 6.2% during the 1st quarter. Roble Belko & Company Inc now owns 1,704 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 100 shares in the last quarter. Smith Salley Wealth Management grew its holdings in shares of The PNC Financial Services Group by 2.2% during the 1st quarter. Smith Salley Wealth Management now owns 79,656 shares of the financial services provider’s stock valued at $16,576,000 after acquiring an additional 1,697 shares in the last quarter. Finally, Evolve Private Wealth LLC increased its stake in shares of The PNC Financial Services Group by 6.2% in the first quarter. Evolve Private Wealth LLC now owns 11,703 shares of the financial services provider’s stock worth $2,435,000 after acquiring an additional 686 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,300 shares of company stock valued at $10,694,574. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Up 1.1%

PNC stock opened at $234.49 on Tuesday. The firm has a market cap of $94.16 billion, a PE ratio of 13.62, a PEG ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a 1 year low of $176.16 and a 1 year high of $243.94. The company has a fifty day simple moving average of $222.91 and a 200 day simple moving average of $218.02. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the business posted $3.51 earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 18.81 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 Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PNC. Stephens began coverage on The PNC Financial Services Group in a report on Monday, June 15th. They set an “overweight” rating and a $265.00 price objective for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Morgan Stanley raised their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Bank of America lifted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Oppenheimer boosted their price target on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $246.72.

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.