Constant Guidance Financial LLC Cuts Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Constant Guidance Financial LLC cut its PNC position by 91.3% in the fourth quarter, selling 15,479 shares and leaving it with 1,481 shares worth about $309,000.
• Several major firms still hold large stakes in PNC, and 83.53% of the stock is owned by hedge funds and other institutional investors. Recent analyst coverage has been mostly positive, with a consensus rating of Moderate Buy and an average price target of $243.11.
• PNC reported Q1 earnings of $4.32 per share, beating estimates, while revenue rose 13.1% year over year. The company also paid a quarterly dividend of $1.70, equal to an annualized yield of about 3.1%.

Constant Guidance Financial LLC reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 91.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,481 shares of the financial services provider's stock after selling 15,479 shares during the period. Constant Guidance Financial LLC's holdings in The PNC Financial Services Group were worth $309,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider's stock valued at $8,114,168,000 after purchasing an additional 408,464 shares in the last quarter. State Street Corp grew its position in shares of The PNC Financial Services Group by 0.5% in the third quarter. State Street Corp now owns 17,242,132 shares of the financial services provider's stock valued at $3,464,462,000 after purchasing an additional 85,291 shares in the last quarter. Capital International Investors grew its position in shares of The PNC Financial Services Group by 6.0% in the third quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider's stock valued at $2,177,318,000 after purchasing an additional 609,755 shares in the last quarter. Geode Capital Management LLC grew its position in shares of The PNC Financial Services Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider's stock valued at $1,841,387,000 after purchasing an additional 30,078 shares in the last quarter. Finally, Viking Global Investors LP grew its position in shares of The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider's stock valued at $1,598,753,000 after purchasing an additional 5,581,102 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PNC. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a research report on Thursday, April 16th. Barclays upped their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Oppenheimer increased their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Bank of America increased their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Finally, Citigroup increased their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $243.11.

The PNC Financial Services Group Stock Up 0.0%

Shares of NYSE PNC opened at $220.86 on Thursday. The PNC Financial Services Group, Inc has a 12-month low of $170.49 and a 12-month high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock has a market cap of $88.69 billion, a P/E ratio of 12.83, a PEG ratio of 0.92 and a beta of 0.94. The business's fifty day simple moving average is $215.54 and its 200-day simple moving average is $212.73.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.21 billion. During the same period last year, the firm earned $3.51 earnings per share. The PNC Financial Services Group's quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 39.51%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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