Stephens Inc. AR Sells 2,659 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Stephens Inc. AR decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 5.1% in the fourth quarter, Holdings Channel reports. The fund owned 49,557 shares of the financial services provider’s stock after selling 2,659 shares during the quarter. Stephens Inc. AR’s holdings in The PNC Financial Services Group were worth $7,674,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PNC. Jump Financial LLC bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $616,000. Atria Wealth Solutions Inc. lifted its stake in The PNC Financial Services Group by 10.0% in the third quarter. Atria Wealth Solutions Inc. now owns 24,831 shares of the financial services provider’s stock worth $3,048,000 after purchasing an additional 2,255 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in The PNC Financial Services Group by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,268,580 shares of the financial services provider’s stock worth $278,514,000 after purchasing an additional 47,368 shares during the last quarter. Van ECK Associates Corp lifted its stake in The PNC Financial Services Group by 9.6% in the third quarter. Van ECK Associates Corp now owns 67,837 shares of the financial services provider’s stock worth $8,328,000 after purchasing an additional 5,924 shares during the last quarter. Finally, Pathstone Family Office LLC lifted its stake in The PNC Financial Services Group by 66.1% in the third quarter. Pathstone Family Office LLC now owns 38,621 shares of the financial services provider’s stock worth $4,744,000 after purchasing an additional 15,370 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC traded up $0.66 on Friday, hitting $155.63. 129,176 shares of the company were exchanged, compared to its average volume of 1,930,161. The firm has a market capitalization of $61.93 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 2.98 and a beta of 1.16. The stock’s 50 day moving average price is $155.74 and its 200 day moving average price is $150.73. 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 PNC Financial Services Group (NYSE:PNCGet Free Report) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.98 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.98%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Jefferies Financial Group reduced their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Bank of America raised their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $157.02.

View Our Latest Report on PNC

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Profile

(Free Report)

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.

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

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