Capital Asset Advisory Services LLC Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital Asset Advisory Services LLC cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 84.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,280 shares of the financial services provider's stock after selling 12,511 shares during the quarter. Capital Asset Advisory Services LLC's holdings in The PNC Financial Services Group were worth $404,000 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 company. Merit Financial Group LLC boosted its position in shares of The PNC Financial Services Group by 59.2% in the 1st quarter. Merit Financial Group LLC now owns 17,760 shares of the financial services provider's stock worth $3,122,000 after purchasing an additional 6,603 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in The PNC Financial Services Group by 12.5% in the first quarter. Harbor Investment Advisory LLC now owns 4,928 shares of the financial services provider's stock valued at $866,000 after buying an additional 547 shares during the last quarter. NBC Securities Inc. raised its stake in The PNC Financial Services Group by 126,475.0% in the first quarter. NBC Securities Inc. now owns 5,063 shares of the financial services provider's stock valued at $890,000 after buying an additional 5,059 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its stake in The PNC Financial Services Group by 19.3% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 1,860 shares of the financial services provider's stock worth $327,000 after purchasing an additional 301 shares in the last quarter. Finally, Czech National Bank grew its position in The PNC Financial Services Group by 5.7% during the 1st quarter. Czech National Bank now owns 90,940 shares of the financial services provider's stock worth $15,985,000 after purchasing an additional 4,909 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $150.50, for a total transaction of $96,470.50. Following the transaction, the chief executive officer now owns 562,291 shares in the company, valued at approximately $84,624,795.50. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 16,396 shares of company stock worth $2,747,698 in the last ninety days. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PNC. Citigroup decreased their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Barclays dropped their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods decreased their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded down $0.20 during midday trading on Thursday, hitting $174.66. The stock had a trading volume of 1,552,171 shares, compared to its average volume of 2,052,894. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a market capitalization of $69.09 billion, a PE ratio of 12.70, a P/E/G ratio of 1.55 and a beta of 1.06. The stock has a 50 day simple moving average of $165.10 and a 200-day simple moving average of $183.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

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.