The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Trimmed by Cassady Schiller Wealth Management LLC

Cassady Schiller Wealth Management LLC reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,769 shares of the financial services provider’s stock after selling 645 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PNC. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $28,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of The PNC Financial Services Group by 350.0% in 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 in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PNC shares. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Evercore ISI dropped their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their target price 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. Finally, StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $157.02.

The PNC Financial Services Group Price Performance

NYSE:PNC traded down $3.23 on Thursday, reaching $153.27. The stock had a trading volume of 841,221 shares, compared to its average volume of 1,948,755. The company has a market capitalization of $60.99 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 3.06 and a beta of 1.16. 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 quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average price of $155.76 and a 200-day moving average price of $148.59.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (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 company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business earned $3.98 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. Research analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction 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 transaction, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.