Institute for Wealth Management LLC. Reduces Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Institute for Wealth Management LLC. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,287 shares of the financial services provider’s stock after selling 83 shares during the period. Institute for Wealth Management LLC.’s holdings in The PNC Financial Services Group were worth $354,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in The PNC Financial Services Group in the third quarter worth about $25,000. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group in the fourth quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its position in 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 purchasing an additional 140 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 3.0 %

Shares of PNC opened at $152.30 on Friday. The business’s 50 day moving average is $151.89 and its 200 day moving average is $142.10. The company has a market capitalization of $60.59 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. 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 PNC Financial Services Group (NYSE:PNC) last issued its 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 company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.98 EPS. Research analysts expect that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Insiders Place Their Bets

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 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PNC shares. UBS Group raised 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. Evercore ISI dropped their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Jefferies Financial Group lowered their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.