Cutler Investment Counsel LLC Lowers Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Cutler Investment Counsel LLC decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,670 shares of the financial services provider's stock after selling 1,736 shares during the quarter. Cutler Investment Counsel LLC's holdings in The PNC Financial Services Group were worth $8,203,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in The PNC Financial Services Group by 0.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock worth $1,288,000 after purchasing an additional 59 shares during the period. True Wealth Design LLC boosted its stake in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 65 shares during the period. KCM Investment Advisors LLC raised its position in The PNC Financial Services Group by 3.9% in the fourth quarter. KCM Investment Advisors LLC now owns 1,828 shares of the financial services provider's stock worth $353,000 after acquiring an additional 68 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in The PNC Financial Services Group by 2.2% in the first quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock valued at $573,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $2.42 during trading hours on Thursday, hitting $190.13. 1,669,288 shares of the company's stock were exchanged, compared to its average volume of 2,475,639. The stock's 50-day moving average is $185.29 and its 200-day moving average is $180.39. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The stock has a market cap of $75.21 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the prior year, the business posted $3.39 earnings per share. The PNC Financial Services Group's revenue was up 4.6% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be given a $1.70 dividend. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.51%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the sale, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,460 shares of company stock worth $1,103,563 in the last 90 days. Company insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Tuesday, July 8th. Royal Bank Of Canada reduced their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their price objective for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Finally, Bank of America lifted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and an average price target of $214.17.

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.