Cwm LLC Cuts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cwm LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,407 shares of the financial services provider’s stock after selling 286 shares during the quarter. Cwm LLC’s holdings in The PNC Financial Services Group were worth $1,921,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PNC. FMR LLC lifted its position in The PNC Financial Services Group by 6.7% in the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after buying an additional 893,808 shares during the last quarter. International Assets Investment Management LLC lifted its position in The PNC Financial Services Group by 15,539.2% in the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after buying an additional 639,903 shares during the last quarter. Invesco Ltd. lifted its position in The PNC Financial Services Group by 10.4% in the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after buying an additional 484,475 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in The PNC Financial Services Group by 44.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock worth $189,297,000 after buying an additional 477,367 shares during the last quarter. Finally, Cambiar Investors LLC bought a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $37,314,000. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction 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 directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Evercore ISI lowered their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. 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, April 17th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Bank of America boosted their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Finally, StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $156.30 on Friday. The stock has a market cap of $62.18 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.79 and a beta of 1.18. The business’s fifty day moving average is $152.61 and its 200 day moving average is $142.97. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping 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 analysts’ expectations of $5.19 billion. During the same period in the prior year, the firm earned $3.98 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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 paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

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.