Benin Management CORP Sells 525 Shares of PNC Financial Services Group Inc (NYSE:PNC)

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Benin Management CORP cut its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 42,075 shares of the financial services provider’s stock after selling 525 shares during the period. PNC Financial Services Group accounts for about 2.8% of Benin Management CORP’s holdings, making the stock its 8th largest holding. Benin Management CORP’s holdings in PNC Financial Services Group were worth $6,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sigma Planning Corp boosted its position in PNC Financial Services Group by 9.0% during the third quarter. Sigma Planning Corp now owns 10,128 shares of the financial services provider’s stock worth $1,420,000 after acquiring an additional 838 shares during the last quarter. First Allied Advisory Services Inc. boosted its position in PNC Financial Services Group by 9.9% during the third quarter. First Allied Advisory Services Inc. now owns 11,732 shares of the financial services provider’s stock worth $1,654,000 after acquiring an additional 1,056 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in PNC Financial Services Group by 4.4% during the third quarter. Pictet Asset Management Ltd. now owns 247,219 shares of the financial services provider’s stock worth $34,650,000 after acquiring an additional 10,323 shares during the last quarter. Ingalls & Snyder LLC boosted its position in PNC Financial Services Group by 13.0% during the third quarter. Ingalls & Snyder LLC now owns 1,674 shares of the financial services provider’s stock worth $235,000 after acquiring an additional 192 shares during the last quarter. Finally, Empire Life Investments Inc. boosted its position in PNC Financial Services Group by 0.7% during the second quarter. Empire Life Investments Inc. now owns 166,287 shares of the financial services provider’s stock worth $22,827,000 after acquiring an additional 1,149 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

In related news, EVP Karen L. Larrimer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $152.29, for a total transaction of $304,580.00. Following the sale, the executive vice president now directly owns 21,172 shares of the company’s stock, valued at approximately $3,224,283.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Gregory B. Jordan sold 9,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $152.50, for a total transaction of $1,448,750.00. Following the sale, the chief accounting officer now directly owns 48,725 shares in the company, valued at $7,430,562.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,623 shares of company stock worth $26,594,817. 0.37% of the stock is owned by insiders.

Several equities analysts have recently commented on PNC shares. UBS Group decreased their price objective on shares of PNC Financial Services Group from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Citigroup upped their price objective on shares of PNC Financial Services Group from $139.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Wells Fargo & Co upped their price objective on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lowered shares of PNC Financial Services Group from a “top pick” rating to an “outperform” rating and set a $155.00 price objective on the stock. in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $155.35.

Shares of PNC opened at $152.71 on Friday. PNC Financial Services Group Inc has a fifty-two week low of $118.70 and a fifty-two week high of $161.79. The firm’s 50 day moving average price is $157.57 and its 200 day moving average price is $144.78. The company has a market cap of $67.79 billion, a P/E ratio of 13.40, a PEG ratio of 1.64 and a beta of 1.15. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.22.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.05. PNC Financial Services Group had a net margin of 24.83% and a return on equity of 10.92%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the firm earned $2.75 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts forecast that PNC Financial Services Group Inc will post 11.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Friday, January 17th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, January 16th. PNC Financial Services Group’s payout ratio is currently 40.39%.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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