Premier Path Wealth Partners LLC Sells 992 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Premier Path Wealth Partners LLC reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 21.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,710 shares of the financial services provider’s stock after selling 992 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $32,000. Whipplewood Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $33,000. Opal Wealth Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at $35,000. REAP Financial Group LLC increased its holdings in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Hoey Investments Inc. acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $39,000. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the purchase, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $179.14, for a total transaction of $222,491.88. Following the completion of the sale, the chief executive officer now owns 556,121 shares in the company, valued at approximately $99,623,515.94. The trade was 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 12,670 shares of company stock valued at $2,099,398 in the last ninety days. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

PNC stock opened at $175.09 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The firm has a market cap of $69.26 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.47 and a beta of 1.06. The company’s 50-day moving average price is $168.58 and its two-hundred day moving average price is $181.37.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.66%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Analyst Ratings Changes

Several equities analysts have commented on PNC shares. Barclays decreased their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Royal Bank Of Canada decreased their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a “buy” rating and a $233.00 price objective on the stock. Finally, Citigroup decreased their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.67.

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.