Fortitude Advisory Group L.L.C. Sells 81 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fortitude Advisory Group L.L.C. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,125 shares of the financial services provider’s stock after selling 81 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in The PNC Financial Services Group were worth $217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in The PNC Financial Services Group by 0.6% during the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of The PNC Financial Services Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after buying an additional 123,994 shares during the last quarter. Geode Capital Management LLC boosted its stake in The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after buying an additional 166,138 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in The PNC Financial Services Group by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock worth $545,380,000 after acquiring an additional 42,887 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock worth $451,052,000 after acquiring an additional 6,438 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.6 %

The PNC Financial Services Group stock opened at $202.71 on Tuesday. The firm has a market capitalization of $80.43 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The firm’s fifty day moving average price is $200.29 and its two-hundred day moving average price is $188.78. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 EPS. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the sale, the chief executive officer now owns 543,523 shares of the company’s stock, valued at $102,997,608.50. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,413 shares of company stock worth $6,021,569. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PNC. Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI upped their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $205.00.

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.