Murphy Pohlad Asset Management LLC Sells 300 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Murphy Pohlad Asset Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.9% in the first quarter, Holdings Channel reports. The institutional investor owned 15,824 shares of the financial services provider’s stock after selling 300 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in The PNC Financial Services Group were worth $2,781,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $32,000. Whipplewood Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $33,000. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth about $35,000. REAP Financial Group LLC boosted its position in shares of 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 valued at $38,000 after acquiring an additional 80 shares in the last quarter. Finally, Hoey Investments Inc. bought a new stake in The PNC Financial Services Group in the fourth quarter valued at about $39,000. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares of the company’s stock, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $179.14, for a total transaction of $222,491.88. Following the completion of the sale, the chief executive officer now directly owns 556,121 shares of the company’s stock, valued at $99,623,515.94. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,912 shares of company stock worth $2,313,022. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 2.6%

Shares of NYSE PNC opened at $173.18 on Monday. 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 firm has a market capitalization of $68.50 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The firm’s 50-day moving average is $167.04 and its 200-day moving average is $182.00. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26.

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

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Analysts Set New Price Targets

Several equities analysts recently commented on PNC shares. Royal Bank of Canada cut their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Morgan Stanley reduced their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. TD Cowen assumed coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $233.00 price objective for the company. Finally, Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.