West Paces Advisors Inc. Reduces Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

West Paces Advisors Inc. trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,268 shares of the financial services provider’s stock after selling 318 shares during the quarter. West Paces Advisors Inc.’s holdings in The PNC Financial Services Group were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PNC. Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $33,000. REAP Financial Group LLC boosted its position in The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 80 shares during the period. Hoey Investments Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter worth $39,000. Finally, True Wealth Design LLC boosted its position in The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 59 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Activity 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, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the transaction, the chief executive officer now directly owns 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the company’s stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 15,154 shares of company stock valued at $2,525,591. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 0.0%

Shares of NYSE PNC opened at $178.71 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a market cap of $70.69 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.55 and a beta of 1.06. 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 business has a fifty day simple moving average of $165.19 and a 200-day simple moving average of $183.04.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Wells Fargo & Company reduced their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Citigroup reduced their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. TD Cowen began coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They set a “buy” rating and a $233.00 price target for the company. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Keefe, Bruyette & Woods cut their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

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.