Provident Trust Co. Has $331.91 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Provident Trust Co. reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,143,412 shares of the financial services provider's stock after selling 16,360 shares during the quarter. The PNC Financial Services Group accounts for about 6.8% of Provident Trust Co.'s investment portfolio, making the stock its 6th largest position. Provident Trust Co. owned 0.54% of The PNC Financial Services Group worth $331,907,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $28,000. Finally, Criterion Capital Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $32,000. 83.53% of the stock is currently owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares of the company's stock, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Down 0.1 %

Shares of NYSE:PNC traded down $0.19 during trading on Friday, hitting $156.11. The stock had a trading volume of 979,208 shares, compared to its average volume of 1,683,569. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a market capitalization of $62.10 billion, a PE ratio of 13.11, a PEG ratio of 1.76 and a beta of 1.18. The firm's fifty day moving average is $152.76 and its 200 day moving average is $143.36. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the company earned $3.98 EPS. The business's revenue was down 8.2% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group's dividend payout ratio is currently 52.06%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PNC. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an "underweight" rating in a report on Tuesday, January 30th. StockNews.com cut The PNC Financial Services Group from a "hold" rating to a "sell" rating in a report on Friday. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a "neutral" rating in a report on Monday, April 1st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $156.63.

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.