Citizens Financial Group Inc. RI Reduces Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Citizens Financial Group Inc. RI lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 68.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,962 shares of the financial services provider’s stock after selling 37,572 shares during the period. Citizens Financial Group Inc. RI’s holdings in The PNC Financial Services Group were worth $2,627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth about $25,000. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of The PNC Financial Services Group by 350.0% in 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.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Down 0.1 %

PNC stock traded down $0.19 during midday trading on Friday, reaching $156.11. The company had a trading volume of 979,208 shares, compared to its average volume of 1,683,569. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $62.10 billion, a P/E ratio of 13.11, a PEG ratio of 1.76 and a beta of 1.18. The company has a 50 day moving average of $152.76 and a two-hundred day moving average of $143.22.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business posted $3.98 EPS. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on PNC. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, Morgan Stanley boosted 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 report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $156.63.

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.