Guyasuta Investment Advisors Inc. Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Guyasuta Investment Advisors Inc. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 241,744 shares of the financial services provider’s stock after selling 1,213 shares during the period. The PNC Financial Services Group accounts for 2.5% of Guyasuta Investment Advisors Inc.’s investment portfolio, making the stock its 14th largest holding. Guyasuta Investment Advisors Inc.’s holdings in The PNC Financial Services Group were worth $37,434,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC increased its stake in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $28,000. Finally, Fortis Group Advisors LLC increased its stake in The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 2.3 %

NYSE:PNC traded up $3.55 during midday trading on Friday, hitting $155.48. The stock had a trading volume of 2,662,268 shares, compared to its average volume of 1,899,952. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a market capitalization of $61.87 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.17 and a beta of 1.16. The stock has a 50-day moving average of $155.18 and a 200 day moving average of $152.82. 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 PNC Financial Services Group (NYSE:PNC) last announced 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 PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. The PNC Financial Services Group’s revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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

Analyst Ratings Changes

PNC has been the topic of several analyst reports. Jefferies Financial Group reduced their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, Bank of America boosted their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $158.43.

Insider Buying and Selling

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

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.