Wright Investors Service Inc. Sells 3,138 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Wright Investors Service Inc. lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,804 shares of the financial services provider’s stock after selling 3,138 shares during the period. Wright Investors Service Inc.’s holdings in The PNC Financial Services Group were worth $2,757,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PNC. OFI Invest Asset Management bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at $25,000. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its position in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PNC. The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday. Finally, UBS Group raised their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Up 0.9 %

NYSE PNC traded up $1.34 during trading hours on Thursday, reaching $148.59. 247,531 shares of the company’s stock traded hands, compared to its average volume of 2,129,952. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The firm has a market cap of $59.11 billion, a PE ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18. The firm has a 50-day simple moving average of $151.80 and a 200 day simple moving average of $141.68. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the company posted $3.98 EPS. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.17%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

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.