Thompson Investment Management Inc. Reduces Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Thompson Investment Management Inc. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.2% during the first quarter, HoldingsChannel.com reports. The firm owned 35,721 shares of the financial services provider’s stock after selling 68 shares during the period. Thompson Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $5,773,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Rockline Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $1,825,000. KPP Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $323,000. AQR Capital Management LLC grew its stake in The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after buying an additional 67,490 shares during the last quarter. Trust Point Inc. bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $295,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares in the company, valued at $87,061,400.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Bank of America raised their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.43.

The PNC Financial Services Group Trading Down 0.1 %

NYSE PNC traded down $0.10 during trading on Wednesday, hitting $151.80. 630,653 shares of the company’s stock traded hands, compared to its average volume of 1,890,718. The stock has a fifty day moving average of $154.95 and a two-hundred day moving average of $152.74. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The firm has a market cap of $60.40 billion, a P/E ratio of 12.75, a PEG ratio of 2.17 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.98 earnings per share. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.08%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

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.