EP Wealth Advisors LLC Sells 498 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

EP Wealth Advisors LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,621 shares of the financial services provider’s stock after selling 498 shares during the period. EP Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $891,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PNC. ORG Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 495.4% during the fourth quarter. ORG Partners LLC now owns 5,132 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 4,270 shares during the period. Graypoint LLC lifted its holdings in The PNC Financial Services Group by 7.7% in the 4th quarter. Graypoint LLC now owns 3,032 shares of the financial services provider’s stock worth $585,000 after buying an additional 218 shares during the period. Czech National Bank grew its position in shares of The PNC Financial Services Group by 6.2% in the 4th quarter. Czech National Bank now owns 86,031 shares of the financial services provider’s stock worth $16,591,000 after buying an additional 5,057 shares during the last quarter. Fiduciary Alliance LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $785,000. Finally, City State Bank raised its holdings in shares of The PNC Financial Services Group by 59.4% during the fourth quarter. City State Bank now owns 1,132 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 422 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the completion of the sale, the chief executive officer now owns 569,783 shares of the company’s stock, valued at $108,361,330.94. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director now owns 2,009 shares of the company’s stock, valued at $317,863.98. This trade represents a 99.11 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 13,662 shares of company stock valued at $2,322,006 in the last 90 days. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Down 0.2 %

Shares of NYSE PNC opened at $166.44 on Friday. The company has a market cap of $65.84 billion, a PE ratio of 12.10, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50 day moving average price is $164.74 and its 200-day moving average price is $186.57. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays lowered their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada dropped their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $200.88.

The PNC Financial Services Group Company 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.