Great Valley Advisor Group Inc. Sells 279 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Great Valley Advisor Group Inc. lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,296 shares of the financial services provider’s stock after selling 279 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in The PNC Financial Services Group were worth $1,130,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PNC. FMR LLC increased its position in The PNC Financial Services Group by 6.7% during the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares during the period. International Assets Investment Management LLC boosted its holdings in The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after acquiring an additional 639,903 shares in the last quarter. Invesco Ltd. grew its position in The PNC Financial Services Group by 10.4% in the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after purchasing an additional 484,475 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of The PNC Financial Services Group by 44.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after buying an additional 477,367 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its stake in shares of The PNC Financial Services Group by 601.1% in the fourth quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock worth $60,885,000 after purchasing an additional 337,105 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $156.22 on Friday. 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 PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a market capitalization of $62.15 billion, a P/E ratio of 13.12, a PEG ratio of 1.76 and a beta of 1.16. The stock has a 50 day moving average price of $153.38 and a two-hundred day moving average price of $144.15.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for 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 was down 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.98 EPS. Analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on PNC shares. JPMorgan Chase & Co. lowered their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Evercore ISI reduced their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Bank of America boosted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, HSBC upgraded 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $157.02.

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.