F m Investments LLC Lowers Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• F m Investments LLC cut its stake in PNC Financial Services by 20.2% in the fourth quarter, selling 11,725 shares and ending with 46,362 shares valued at about $9.68 million.
• PNC shares were down 1.2% to $216.66, while the company reported strong quarterly results with EPS of $4.32, beating estimates, and revenue up 13.1% year over year.
• The company recently paid a $1.70 quarterly dividend ($6.80 annualized), and analysts remain largely bullish with a consensus rating of Moderate Buy and an average target price of $243.11.

F m Investments LLC trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,362 shares of the financial services provider's stock after selling 11,725 shares during the quarter. F m Investments LLC's holdings in The PNC Financial Services Group were worth $9,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. Quarry LP purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $25,000. Westfuller Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $34,000. Beacon Financial Strategies CORP purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $35,000. JPL Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $37,000. Finally, Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $39,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 1.2%

Shares of NYSE PNC opened at $216.66 on Friday. The PNC Financial Services Group, Inc has a one year low of $166.02 and a one year high of $243.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm's 50 day simple moving average is $213.76 and its two-hundred day simple moving average is $209.44. The stock has a market capitalization of $87.00 billion, a P/E ratio of 12.59, a PEG ratio of 0.91 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.21 billion. During the same quarter last year, the business earned $3.51 earnings per share. The business's revenue was up 13.1% on a year-over-year basis. As a group, analysts expect 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 company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 39.51%.

Insider Activity

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares in the company, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the transaction, the executive vice president owned 1,942 shares in the company, valued at $448,563.16. This represents a 79.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 over the last ninety days. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PNC shares. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an "overweight" rating in a report on Tuesday, January 20th. Oppenheimer increased their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Barclays increased their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. JPMorgan Chase & Co. upped their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and an average target price of $243.11.

About The PNC Financial Services Group

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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