Fidelity D & D Bancorp Inc. Sells 159 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fidelity D & D Bancorp Inc. cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,549 shares of the financial services provider’s stock after selling 159 shares during the quarter. The PNC Financial Services Group comprises 1.2% of Fidelity D & D Bancorp Inc.’s investment portfolio, making the stock its 24th largest position. Fidelity D & D Bancorp Inc.’s holdings in The PNC Financial Services Group were worth $1,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Mechanics Financial Corp bought a new position in The PNC Financial Services Group during the fourth quarter valued at $541,000. AssuredPartners Investment Advisors LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $739,000. Premier Fund Managers Ltd lifted its position in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after purchasing an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in The PNC Financial Services Group by 25.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its position in The PNC Financial Services Group by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after buying an additional 3,100 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $190.18, for a total transaction of $236,203.56. Following the completion of the sale, the chief executive officer now directly owns 569,783 shares of the company’s stock, valued at $108,361,330.94. This represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 16,396 shares of company stock valued at $2,773,072 in the last three months. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $171.87 on Monday. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $67.99 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The stock’s 50 day simple moving average is $165.13 and its 200-day simple moving average is $185.51.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PNC shares. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. The Goldman Sachs Group reduced their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods cut their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 16th. Finally, Citigroup dropped their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

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.