Fisher Asset Management LLC Has $731,000 Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fisher Asset Management LLC reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 21.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,723 shares of the financial services provider’s stock after selling 1,265 shares during the period. Fisher Asset Management LLC’s holdings in The PNC Financial Services Group were worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $28,000. Finally, Fortis Group Advisors LLC grew its stake in shares of The PNC Financial Services Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 0.0 %

PNC stock opened at $153.20 on Monday. The stock has a market capitalization of $60.96 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. 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, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The firm has a 50-day moving average price of $154.73 and a 200-day moving average price of $152.55.

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 analysts’ consensus estimates 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 business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.98 earnings per share. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Analyst Ratings Changes

PNC has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. decreased their price target 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 note on Wednesday, May 1st. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Evercore ISI decreased their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $157.83.

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.