Trust Point Inc. Has $340,000 Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Trust Point Inc. lessened its position in shares of The PNC Financial Services Group, Inc (NYSE:PNCFree Report) by 25.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,935 shares of the financial services provider’s stock after selling 669 shares during the quarter. Trust Point Inc.’s holdings in The PNC Financial Services Group were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mechanics Financial Corp acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $541,000. AssuredPartners Investment Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth about $739,000. Premier Fund Managers Ltd lifted its stake in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after purchasing an additional 13,700 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares in the last quarter. Finally, PKS Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $357,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $173.23 on Wednesday. The business’s 50-day simple moving average is $167.82 and its 200 day simple moving average is $181.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The stock has a market cap of $68.52 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.47 and a beta of 1.06. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Insider Buying and Selling

In related news, EVP Kieran John Fallon sold 1,492 shares of the business’s 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 completion of the transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 601 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total transaction of $96,160.00. Following the completion of the sale, the chief executive officer now owns 563,573 shares in the company, valued at approximately $90,171,680. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,912 shares of company stock valued at $2,313,022 over the last three months. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Royal Bank Of Canada reduced their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Citigroup dropped their target price on shares of 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. Barclays reduced their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.67.

Check Out Our Latest Stock Analysis on The PNC Financial Services Group

About The PNC Financial Services Group

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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