Ritholtz Wealth Management Sells 2,266 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Ritholtz Wealth Management reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 9.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 22,587 shares of the financial services provider's stock after selling 2,266 shares during the quarter. Ritholtz Wealth Management's holdings in The PNC Financial Services Group were worth $3,970,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. Whipplewood Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $33,000. Opal Wealth Advisors LLC bought a new position in The PNC Financial Services Group during the first quarter worth about $35,000. REAP Financial Group LLC increased its stake in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, Hoey Investments Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $39,000. Institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. 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 for the company in a research note on Wednesday, April 16th. Morgan Stanley decreased their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Barclays lowered their price target 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. 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 opened at $173.18 on Monday. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The company's 50 day simple moving average is $167.04 and its 200 day simple moving average is $182.00. The stock has a market capitalization of $68.50 billion, a PE ratio of 12.59, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping 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 the consensus estimate of $5.50 billion. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Insider Transactions at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff purchased 1,000 shares of the stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director now owns 2,009 shares in the company, valued at $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 554,879 shares in the company, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,912 shares of company stock valued at $2,313,022. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group 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.

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