The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,376 shares of the financial services provider’s stock after selling 300 shares during the period. Royal Fund Management LLC’s holdings in The PNC Financial Services Group were worth $368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steph & Co. boosted its stake in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after buying an additional 67 shares during the period. Bangor Savings Bank lifted its stake in shares of The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 69 shares during the last quarter. Oakworth Capital Inc. lifted its stake in shares of The PNC Financial Services Group by 11.7% in the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 75 shares during the last quarter. Caprock Group LLC lifted its stake in shares of The PNC Financial Services Group by 0.9% in the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after purchasing an additional 79 shares during the last quarter. Finally, Legacy Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 0.8% in the 3rd quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $0.54 during trading hours on Friday, reaching $156.22. 1,141,551 shares of the company were exchanged, compared to its average volume of 1,722,543. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $62.15 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.76 and a beta of 1.16. The stock’s fifty day moving average is $153.58 and its two-hundred day moving average is $144.41. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share 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 the consensus estimate 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 PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal 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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PNC shares. Evercore ISI reduced their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Jefferies Financial Group dropped 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 report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. dropped 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 report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $157.02.

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 on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.

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.