The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,570 shares of the financial services provider’s stock after selling 589 shares during the quarter. International Assets Investment Management LLC’s holdings in The PNC Financial Services Group were worth $571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group during the 4th quarter worth $26,000. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC boosted its position in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Finally, Core Wealth Advisors Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter worth $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $153.20 on Monday. The company has a market cap of $60.96 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. The stock has a 50-day moving average of $154.73 and a 200-day moving average of $152.55. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

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, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.98 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 earnings per share 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 given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis 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 presently 52.06%.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. 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. Evercore ISI dropped their price objective on 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. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Jefferies Financial Group cut their target price on 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $157.83.

Insider Activity

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company insiders.

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.