Amalgamated Bank Sells 1,946 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Amalgamated Bank lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,100 shares of the financial services provider’s stock after selling 1,946 shares during the quarter. Amalgamated Bank’s holdings in The PNC Financial Services Group were worth $14,676,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Finally, 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 buying an additional 200 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup boosted their price target 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. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $205.00.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the sale, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 13,662 shares of company stock valued at $2,713,745 in the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $186.55 on Wednesday. The stock has a 50-day moving average price of $195.56 and a two-hundred day moving average price of $192.21. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $74.02 billion, a PE ratio of 13.57, a P/E/G ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly 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 PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

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.