Citizens Financial Group Inc. RI Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Citizens Financial Group Inc. RI trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,775 shares of the financial services provider’s stock after selling 1,187 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in The PNC Financial Services Group were worth $2,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PNC. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC boosted its stake 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 buying an additional 140 shares during the period. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,000. Core Wealth Advisors Inc. purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $31,000. Finally, Fortis Group Advisors LLC lifted 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 purchasing an additional 100 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,903 shares of company stock valued at $3,463,786. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $5.99 on Friday, hitting $170.00. The company had a trading volume of 2,623,493 shares, compared to its average volume of 1,931,668. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $182.84. The business has a 50 day moving average of $161.81 and a 200 day moving average of $155.84. The company has a market cap of $67.64 billion, a PE ratio of 14.42, a PEG ratio of 2.33 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm posted $3.36 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.02 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.76%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PNC. Bank of America boosted their target price on The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Royal Bank of Canada boosted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley lifted their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $176.09.

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.