GTS Securities LLC Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

GTS Securities LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 92.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,409 shares of the financial services provider's stock after selling 39,068 shares during the period. GTS Securities LLC's holdings in The PNC Financial Services Group were worth $657,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PNC. Brighton Jones LLC grew its stake in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after purchasing an additional 984 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its position in The PNC Financial Services Group by 6.0% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 1,672 shares of the financial services provider's stock valued at $322,000 after buying an additional 94 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in The PNC Financial Services Group by 3.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 7,891 shares of the financial services provider's stock worth $1,522,000 after buying an additional 285 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock worth $434,000 after buying an additional 53 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in The PNC Financial Services Group by 44.1% during the 4th quarter. Blue Trust Inc. now owns 6,209 shares of the financial services provider's stock valued at $1,148,000 after acquiring an additional 1,901 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the transaction, the director now owns 2,009 shares of the company's stock, valued at $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 16,396 shares of company stock valued at $2,747,698. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNC. Morgan Stanley cut their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target 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. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group Price Performance

PNC traded down $1.24 during midday trading on Friday, hitting $173.86. 3,822,295 shares of the company traded hands, compared to its average volume of 2,061,832. The company has a market capitalization of $68.77 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.55 and a beta of 1.06. The business has a 50 day simple moving average of $165.13 and a two-hundred day simple moving average of $184.90. 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, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, equities analysts forecast 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 Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.68%. The PNC Financial Services Group's payout ratio is 45.20%.

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.