Carret Asset Management LLC Sells 95 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Carret Asset Management LLC trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.3% during the first quarter, HoldingsChannel reports. The firm owned 28,985 shares of the financial services provider’s stock after selling 95 shares during the quarter. Carret Asset Management LLC’s holdings in The PNC Financial Services Group were worth $4,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of The PNC Financial Services Group by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 940,225 shares of the financial services provider’s stock valued at $151,940,000 after acquiring an additional 5,785 shares during the period. Hexagon Capital Partners LLC increased its position in The PNC Financial Services Group by 8.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,738 shares of the financial services provider’s stock worth $281,000 after buying an additional 133 shares during the last quarter. Kowal Investment Group LLC raised its stake in shares of The PNC Financial Services Group by 25.7% in the first quarter. Kowal Investment Group LLC now owns 2,576 shares of the financial services provider’s stock valued at $416,000 after buying an additional 527 shares during the period. Hi Line Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 1.4% during the 1st quarter. Hi Line Capital Management LLC now owns 37,827 shares of the financial services provider’s stock valued at $6,113,000 after buying an additional 519 shares during the last quarter. Finally, LVW Advisors LLC grew its stake in shares of The PNC Financial Services Group by 29.6% during the 1st quarter. LVW Advisors LLC now owns 5,890 shares of the financial services provider’s stock worth $952,000 after acquiring an additional 1,346 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Insiders sold 2,132 shares of company stock valued at $328,809 in the last 90 days. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Bank of America raised their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $158.56.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $1.05 during trading on Wednesday, hitting $157.79. The company had a trading volume of 912,058 shares, compared to its average volume of 1,885,161. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The stock’s 50-day moving average is $155.21 and its two-hundred day moving average is $153.02. The stock has a market capitalization of $62.79 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for 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 business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the business earned $3.98 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group 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.