The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Cypress Capital Group

Cypress Capital Group reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,072 shares of the financial services provider’s stock after selling 318 shares during the quarter. Cypress Capital Group’s holdings in The PNC Financial Services Group were worth $1,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. increased its stake in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $33,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the sale, the chief executive officer now owns 531,281 shares of the company’s stock, valued at $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 13,662 shares of company stock valued at $2,681,664. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Down 4.9 %

PNC stock opened at $180.27 on Wednesday. The company has a market cap of $71.34 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The company’s 50-day moving average price is $195.06 and its 200 day moving average price is $192.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.16 earnings per share. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

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.