Cooke & Bieler LP Sells 22,382 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Cooke & Bieler LP lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 786,955 shares of the financial services provider’s stock after selling 22,382 shares during the quarter. Cooke & Bieler LP owned approximately 0.20% of The PNC Financial Services Group worth $121,860,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Steph & Co. raised its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after buying an additional 67 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in The PNC Financial Services Group by 33.5% in the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after buying an additional 67 shares during the last quarter. Bangor Savings Bank raised its holdings in The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after buying an additional 69 shares during the last quarter. Oakworth Capital Inc. raised its holdings in The PNC Financial Services Group by 11.7% in the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after buying an additional 75 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in The PNC Financial Services Group by 0.9% in the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after buying an additional 79 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $152.30 on Friday. The company has a fifty day simple moving average of $151.89 and a 200 day simple moving average of $142.10. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a market cap of $60.59 billion, a P/E ratio of 12.79, a PEG ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $3.98 EPS. The PNC Financial Services Group’s revenue was down 8.2% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PNC shares. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Evercore ISI lowered their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group lowered their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $156.63.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group 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 sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

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.