Desjardins Global Asset Management Inc. Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Desjardins Global Asset Management Inc. trimmed its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,754 shares of the financial services provider’s stock after selling 206 shares during the period. Desjardins Global Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $272,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Emfo LLC raised its stake in shares of The PNC Financial Services Group by 59.1% in the 4th quarter. Emfo LLC now owns 2,705 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 1,005 shares during the period. Mackenzie Financial Corp raised its stake in shares of The PNC Financial Services Group by 46.4% in the 4th quarter. Mackenzie Financial Corp now owns 246,618 shares of the financial services provider’s stock valued at $38,189,000 after acquiring an additional 78,122 shares during the period. Bison Wealth LLC raised its stake in shares of The PNC Financial Services Group by 3.7% in the 4th quarter. Bison Wealth LLC now owns 4,130 shares of the financial services provider’s stock valued at $640,000 after acquiring an additional 147 shares during the period. Warner Financial Inc. purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $310,000. Finally, Dakota Wealth Management raised its stake in shares of The PNC Financial Services Group by 806.2% in the 4th quarter. Dakota Wealth Management now owns 48,157 shares of the financial services provider’s stock valued at $7,457,000 after acquiring an additional 42,843 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PNC. Bank of America boosted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $156.63.

The PNC Financial Services Group Trading Up 0.4 %

NYSE PNC opened at $147.82 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The stock has a market capitalization of $58.80 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The firm has a 50 day moving average of $151.80 and a two-hundred day moving average of $141.72.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business posted $3.98 EPS. The firm’s revenue was down 8.2% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 12.47 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of 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 available at this link. Company insiders own 0.42% of the company’s stock.

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.