Pinnacle Wealth Management Advisory Group LLC Lowers Holdings in PNC Financial Services Group Inc (PNC)

Pinnacle Wealth Management Advisory Group LLC reduced its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,536 shares of the financial services provider’s stock after selling 230 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in PNC Financial Services Group were worth $647,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PNC. PNC Financial Services Group Inc. lifted its stake in shares of PNC Financial Services Group by 4.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,498,991 shares of the financial services provider’s stock valued at $340,336,000 after purchasing an additional 97,625 shares during the period. Capital International Investors lifted its stake in shares of PNC Financial Services Group by 105.5% in the third quarter. Capital International Investors now owns 2,332,232 shares of the financial services provider’s stock valued at $317,627,000 after purchasing an additional 1,197,093 shares during the period. Legal & General Group Plc lifted its stake in shares of PNC Financial Services Group by 2.1% in the third quarter. Legal & General Group Plc now owns 2,193,219 shares of the financial services provider’s stock valued at $298,726,000 after purchasing an additional 44,727 shares during the period. Clearbridge Investments LLC lifted its stake in shares of PNC Financial Services Group by 38.0% in the third quarter. Clearbridge Investments LLC now owns 1,915,660 shares of the financial services provider’s stock valued at $260,894,000 after purchasing an additional 527,145 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of PNC Financial Services Group by 11.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,680,920 shares of the financial services provider’s stock valued at $228,924,000 after purchasing an additional 175,225 shares during the period. 80.61% of the stock is currently owned by institutional investors.

PNC has been the subject of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of PNC Financial Services Group to $150.00 and set an “average” rating for the company in a research note on Thursday, January 17th. Deutsche Bank upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday, October 15th. Barclays reduced their price objective on shares of PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 2nd. Morgan Stanley reduced their price objective on shares of PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating for the company in a research note on Monday, October 15th. Finally, ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $145.45.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $124.82, for a total transaction of $624,100.00. Following the completion of the transaction, the insider now directly owns 53,239 shares in the company, valued at approximately $6,645,291.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Q. Reilly sold 12,361 shares of the firm’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $122.50, for a total transaction of $1,514,222.50. Following the transaction, the executive vice president now owns 118,671 shares of the company’s stock, valued at $14,537,197.50. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

NYSE:PNC opened at $123.05 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.20. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $163.59. The stock has a market cap of $55.94 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.04.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, January 16th. The financial services provider reported $2.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.79 by ($0.04). PNC Financial Services Group had a net margin of 26.51% and a return on equity of 11.23%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the business posted $2.29 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts forecast that PNC Financial Services Group Inc will post 11.33 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 5th. Shareholders of record on Thursday, January 17th were issued a dividend of $0.95 per share. The ex-dividend date was Wednesday, January 16th. This represents a $3.80 annualized dividend and a yield of 3.09%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 35.48%.

PNC Financial Services Group announced that its Board of Directors has approved a share repurchase program on Thursday, November 8th that permits the company to buyback $900.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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