Brookmont Capital Management Sells 70 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Brookmont Capital Management decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,608 shares of the financial services provider’s stock after selling 70 shares during the period. The PNC Financial Services Group accounts for approximately 1.2% of Brookmont Capital Management’s holdings, making the stock its 28th biggest holding. Brookmont Capital Management’s holdings in The PNC Financial Services Group were worth $2,361,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $28,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Finally, Core Wealth Advisors Inc. bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $31,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Bank of America increased their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Jefferies Financial Group reduced their price objective on shares of 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. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group increased their price objective 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.43.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares in the company, valued at $87,061,400.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Up 2.3 %

Shares of NYSE:PNC traded up $3.55 during trading on Friday, reaching $155.48. 2,662,268 shares of the company were exchanged, compared to its average volume of 1,899,952. The firm has a market capitalization of $61.87 billion, a PE ratio of 13.05, a P/E/G ratio of 2.17 and a beta of 1.16. The business’s fifty day simple moving average is $155.18 and its 200-day simple moving average is $152.82. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates 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 was down 8.2% compared to the same quarter last year. During the same period last year, the company posted $3.98 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.99%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

The PNC Financial Services Group 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.