The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 24.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 84,500 shares of the financial services provider’s stock after selling 27,753 shares during the period. Manning & Napier Advisors LLC’s holdings in The PNC Financial Services Group were worth $16,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at $30,000. Valley Wealth Managers Inc. grew its stake in The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Quarry LP increased its holdings in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 170 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in The PNC Financial Services Group during the third quarter worth $51,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.6 %

PNC traded up $3.13 during trading hours on Wednesday, reaching $204.85. The company’s stock had a trading volume of 225,066 shares, compared to its average volume of 2,424,802. The stock has a market cap of $81.28 billion, a PE ratio of 14.91, a P/E/G ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $200.14 and its 200-day moving average is $189.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The business 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.16 EPS. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.12%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley raised their target price 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. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the transaction, the chief executive officer now directly owns 536,249 shares in the company, valued at $111,604,141.88. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock worth $6,021,569 over the last three months. Insiders own 0.42% of the company’s stock.

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.