Wealth Enhancement Advisory Services LLC Sells 125,451 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Wealth Enhancement Advisory Services LLC decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 31.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 278,404 shares of the financial services provider's stock after selling 125,451 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of The PNC Financial Services Group worth $48,936,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PNC. Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000. Whipplewood Advisors LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $33,000. REAP Financial Group LLC increased its holdings in shares of The PNC Financial Services Group by 67.2% during 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 during the period. Hoey Investments Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $39,000. Finally, True Wealth Design LLC increased its stake in The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after acquiring an additional 59 shares during the period. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Up 1.3%

Shares of NYSE PNC opened at $177.61 on Friday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The company's 50 day moving average price is $169.10 and its 200-day moving average price is $181.16. The company has a market capitalization of $70.26 billion, a P/E 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 announced its 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 PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. 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 3.60%. The PNC Financial Services Group's payout ratio is currently 45.20%.

Analysts Set New Price Targets

A number of research firms have commented on PNC. Keefe, Bruyette & Woods lowered their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 target price on the stock. Finally, Morgan Stanley decreased 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $202.67.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $174.78, for a total transaction of $217,076.76. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 12,670 shares of company stock worth $2,099,398. 0.41% of the stock is owned by corporate insiders.

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.

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