Northeast Financial Group Inc. Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Northeast Financial Group Inc. lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 29.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,995 shares of the financial services provider’s stock after selling 842 shares during the quarter. Northeast Financial Group Inc.’s holdings in The PNC Financial Services Group were worth $322,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $1,039,481,000. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 165.4% in the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after purchasing an additional 3,046,226 shares in the last quarter. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 14.4% in the 4th quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after purchasing an additional 1,978,854 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of The PNC Financial Services Group by 19.5% in the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of The PNC Financial Services Group by 15,539.2% in the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after purchasing an additional 639,903 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.1 %

Shares of NYSE PNC opened at $151.74 on Thursday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The firm has a market cap of $60.38 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 2.17 and a beta of 1.16. 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 stock’s 50-day simple moving average is $154.95 and its 200-day simple moving average is $152.74.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 firm 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 net margin of 16.05% and a return on equity of 11.64%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 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. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Evercore ISI raised their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $158.43.

Insiders Place Their Bets

In other news, EVP Richard Kevin Bynum sold 850 shares of the business’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 sale, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

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.