Migdal Insurance & Financial Holdings Ltd. Reduces Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Migdal Insurance & Financial Holdings Ltd. cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 74.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251 shares of the financial services provider’s stock after selling 716 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in The PNC Financial Services Group were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PNC. OFI Invest Asset Management purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $26,000. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its position 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 last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $147.82 on Friday. The firm has a 50 day moving average price of $151.80 and a 200 day moving average price of $141.72. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $58.80 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the company posted $3.98 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNC. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday. Evercore ISI decreased their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group raised their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, Bank of America raised their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Company 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.