Western Wealth Management LLC Has $260,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Western Wealth Management LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,678 shares of the financial services provider’s stock after selling 244 shares during the period. Western Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. FMR LLC lifted its holdings in The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after acquiring an additional 893,808 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after purchasing an additional 639,903 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of The PNC Financial Services Group by 10.4% in the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after purchasing an additional 484,475 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of The PNC Financial Services Group by 44.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after purchasing an additional 477,367 shares in the last quarter. Finally, Cambiar Investors LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $37,314,000. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. Morgan Stanley boosted their price target on 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. UBS Group upped their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. HSBC upgraded 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. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $156.63.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s 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 owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $155.93 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The business’s 50 day moving average price is $152.03 and its two-hundred day moving average price is $142.51. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market cap of $62.03 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $3.98 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

The PNC Financial Services Group 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.