SG Americas Securities LLC Sells 148,606 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

SG Americas Securities LLC reduced its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 96.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,195 shares of the financial services provider's stock after selling 148,606 shares during the quarter. SG Americas Securities LLC's holdings in The PNC Financial Services Group were worth $913,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Transcend Capital Advisors LLC increased its holdings in The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock worth $616,000 after purchasing an additional 55 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in The PNC Financial Services Group by 0.9% in the fourth 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 in the last quarter. True Wealth Design LLC increased its holdings in 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 worth $39,000 after purchasing an additional 59 shares in the last quarter. Dynasty Wealth Management LLC increased its holdings in The PNC Financial Services Group by 4.5% in the fourth quarter. Dynasty Wealth Management LLC now owns 1,477 shares of the financial services provider's stock worth $285,000 after purchasing an additional 64 shares in the last quarter. Finally, Metis Global Partners LLC increased its holdings in The PNC Financial Services Group by 0.4% in the fourth quarter. Metis Global Partners LLC now owns 18,585 shares of the financial services provider's stock worth $3,584,000 after purchasing an additional 67 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $174.78, for a total transaction of $217,076.76. Following the completion of the sale, the chief executive officer now directly owns 564,815 shares of the company's stock, valued at $98,718,365.70. This trade represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president now directly owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,670 shares of company stock valued at $2,099,398 in the last ninety days. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

PNC has been the subject of a number of research reports. Barclays reduced their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Royal Bank Of Canada reduced their price objective on 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. JPMorgan Chase & Co. reduced their price objective on 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. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, TD Cowen initiated coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group Stock Up 1.3%

Shares of PNC stock traded up $2.34 during trading hours on Friday, reaching $177.61. The company had a trading volume of 5,430,681 shares, compared to its average volume of 2,080,361. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day simple moving average of $168.58 and a 200-day simple moving average of $181.37. The company has a market cap of $70.26 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. On average, research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is presently 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.