Fulton Breakefield Broenniman LLC Sells 2,378 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fulton Breakefield Broenniman LLC decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,051 shares of the financial services provider’s stock after selling 2,378 shares during the period. The PNC Financial Services Group comprises about 1.5% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its 25th biggest position. Fulton Breakefield Broenniman LLC’s holdings in The PNC Financial Services Group were worth $18,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PNC. FMR LLC grew its holdings in shares of 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 last quarter. Invesco Ltd. grew its holdings in shares of The PNC Financial Services Group by 10.4% during 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 last quarter. Northern Trust Corp grew its holdings in shares of The PNC Financial Services Group by 2.0% during the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock valued at $577,267,000 after purchasing an additional 93,636 shares during the last quarter. Morgan Stanley grew its holdings in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock valued at $473,767,000 after purchasing an additional 36,362 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of The PNC Financial Services Group by 2.5% during the 3rd quarter. Royal Bank of Canada now owns 3,327,229 shares of the financial services provider’s stock valued at $408,485,000 after purchasing an additional 82,406 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1 %

NYSE:PNC opened at $156.11 on Friday. The company has a 50-day moving average price of $152.76 and a 200-day moving average price of $143.36. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month 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 stock has a market cap of $62.10 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.76 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its 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 firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the company posted $3.98 EPS. Equities analysts predict that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI reduced their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America increased their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group dropped their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $156.63.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly 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 can be accessed through this hyperlink. 0.42% of the stock is owned by company insiders.

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.