The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Decreased by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,097,593 shares of the financial services provider’s stock after selling 124,356 shares during the period. The PNC Financial Services Group accounts for approximately 2.0% of Bahl & Gaynor Inc.’s holdings, making the stock its 16th biggest position. Bahl & Gaynor Inc. owned 0.53% of The PNC Financial Services Group worth $324,812,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PNC. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at about $25,000. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its position in shares of 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 last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PNC. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Bank of America upped their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Trading Down 0.1 %

The PNC Financial Services Group stock opened at $156.11 on Friday. The company has a 50 day moving average price of $152.76 and a 200 day moving average price of $143.22. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $62.10 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.76 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last issued its 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 company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the business posted $3.98 EPS. Research analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

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.