Great Lakes Retirement Inc. Cuts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Great Lakes Retirement Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 42.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,753 shares of the financial services provider’s stock after selling 3,449 shares during the quarter. Great Lakes Retirement Inc.’s holdings in The PNC Financial Services Group were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PNC. Well Done LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $247,000. Planned Solutions Inc. bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $84,000. IFG Advisory LLC lifted its position in shares of The PNC Financial Services Group by 32.5% during the fourth quarter. IFG Advisory LLC now owns 3,076 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 755 shares during the last quarter. Columbia Trust Co 01012016 increased its holdings in The PNC Financial Services Group by 11.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,762 shares of the financial services provider’s stock valued at $1,512,000 after buying an additional 982 shares during the last quarter. Finally, Schechter Investment Advisors LLC lifted its holdings in The PNC Financial Services Group by 2.6% during the 4th quarter. Schechter Investment Advisors LLC now owns 5,361 shares of the financial services provider’s stock worth $830,000 after buying an additional 134 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 1.1 %

NYSE PNC traded up $1.73 during trading on Thursday, hitting $161.70. 1,096,748 shares of the company traded hands, compared to its average volume of 2,223,226. The business has a fifty day simple moving average of $149.96 and a 200 day simple moving average of $138.25. The company has a current ratio of 0.84, a quick ratio of 0.84 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 company has a market capitalization of $64.33 billion, a P/E ratio of 12.65, a PEG ratio of 1.79 and a beta of 1.17.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, beating the consensus estimate of $2.12 by $1.04. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.49 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.4 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were given a $1.55 dividend. The ex-dividend date was Friday, January 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.83%. The PNC Financial Services Group’s dividend payout ratio is 48.48%.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research reports. Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday. Stephens reiterated an “equal weight” rating and set a $138.00 price objective on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the stock from $141.00 to $155.00 in a research report on Thursday. Finally, Piper Sandler upped their price objective on The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $152.87.

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.