Sentry Investment Management LLC Sells 1,756 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sentry Investment Management LLC cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 75.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 557 shares of the financial services provider’s stock after selling 1,756 shares during the quarter. Sentry Investment Management LLC’s holdings in The PNC Financial Services Group were worth $86,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PNC. BKM Wealth Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $28,000. Finally, OFI Invest Asset Management purchased a new position in shares of The PNC Financial Services Group in the third quarter valued at $25,000. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.4 %

Shares of PNC opened at $147.82 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a 50 day simple moving average of $151.80 and a two-hundred day simple moving average of $141.72. The firm has a market cap of $58.80 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.98 EPS. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 12.47 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PNC shares. Jefferies Financial Group cut their target price 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. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday. Finally, UBS Group boosted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $156.63.

About The PNC Financial Services Group

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.