The PNC Financial Services Group, Inc. (NYSE:PNC) Position Decreased by Nemes Rush Group LLC

Nemes Rush Group LLC reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 21.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,577 shares of the financial services provider’s stock after selling 704 shares during the quarter. Nemes Rush Group LLC’s holdings in The PNC Financial Services Group were worth $497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of The PNC Financial Services Group by 3.1% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after buying an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares during the period. Transcend Capital Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 55 shares during the last quarter. Valmark Advisers Inc. boosted its position in shares of The PNC Financial Services Group by 1.4% in the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 56 shares during the period. Finally, Red Wave Investments LLC increased its stake in The PNC Financial Services Group by 3.1% in the 3rd quarter. Red Wave Investments LLC now owns 1,907 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 58 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

PNC stock opened at $174.58 on Wednesday. The company has a market capitalization of $69.09 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.55 and a beta of 1.13. The firm has a 50 day moving average of $186.98 and a two-hundred day moving average of $192.18. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.16 earnings per share. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.67%. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the completion of the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 13,662 shares of company stock worth $2,559,389 over the last 90 days. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. The Goldman Sachs Group lowered their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Citigroup reduced their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $204.12.

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.