Golden State Equity Partners Sells 328 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Golden State Equity Partners decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,847 shares of the financial services provider’s stock after selling 328 shares during the period. Golden State Equity Partners’ holdings in The PNC Financial Services Group were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $28,000. Finally, Criterion Capital Advisors LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. 83.53% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PNC shares. UBS Group increased their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Jefferies Financial Group dropped their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Bank of America upped their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group lifted their target price 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $156.11 on Friday. The firm’s 50-day simple moving average is $152.76 and its two-hundred day simple moving average is $143.36. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The stock has a market cap of $62.10 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. 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 posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business posted $3.98 EPS. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

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.