Farmers Trust Co. Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Farmers Trust Co. decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,038 shares of the financial services provider’s stock after selling 125 shares during the quarter. Farmers Trust Co.’s holdings in The PNC Financial Services Group were worth $1,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Norges Bank purchased a new position in The PNC Financial Services Group during the fourth quarter worth approximately $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth approximately $299,864,000. Schroder Investment Management Group raised its position in The PNC Financial Services Group by 166.1% in the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock valued at $265,436,000 after purchasing an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA raised its position in The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the period. Finally, Bank of New York Mellon Corp raised its position in The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after purchasing an additional 710,311 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Royal Bank of Canada reduced their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company reduced their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.67.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at approximately $97,093,223.85. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,396 shares of company stock worth $2,747,698 in the last quarter. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $175.15 on Friday. The stock’s 50-day moving average is $165.13 and its two-hundred day moving average is $184.90. 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 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 market cap of $69.28 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. Analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business 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. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.65%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

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.