West Paces Advisors Inc. Sells 147 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

West Paces Advisors Inc. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 6,499 shares of the financial services provider’s stock after selling 147 shares during the quarter. West Paces Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PNC. OFI Invest Asset Management bought a new stake in The PNC Financial Services Group in the third quarter worth $25,000. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its position in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 2.0 %

NYSE:PNC traded down $3.02 during trading hours on Tuesday, reaching $146.54. 3,350,244 shares of the company traded hands, compared to its average volume of 2,159,334. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The stock has a market capitalization of $58.30 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.73 and a beta of 1.18. The business’s 50-day moving average price is $151.88 and its two-hundred day moving average price is $141.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.05 by $0.05. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 EPS. Analysts predict that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued 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 4.23%. The PNC Financial Services Group’s payout ratio is 48.48%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley increased 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 research report on Tuesday, January 30th. Evercore ISI boosted their price target on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Wells Fargo & Company lifted 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an “underperform” rating in a report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $157.10.

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.