Prosperity Wealth Management Inc. Trims Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Prosperity Wealth Management Inc. reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,841 shares of the financial services provider’s stock after selling 111 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in The PNC Financial Services Group were worth $285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PNC. OFI Invest Asset Management purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $25,000. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group in the 4th quarter valued at $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of The PNC Financial Services Group by 350.0% in the fourth 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 during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 2.0 %

NYSE PNC traded down $3.02 during trading on Wednesday, hitting $146.54. 3,350,292 shares of the company’s stock traded hands, compared to its average volume of 1,563,898. 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 debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a fifty day moving average of $151.82 and a two-hundred day moving average of $141.64. The firm has a market cap of $58.30 billion, a P/E ratio of 11.46, a PEG ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly 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 $3.05 by $0.05. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $3.98 EPS. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.23%. The PNC Financial Services Group’s payout ratio is currently 48.48%.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PNC shares. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an “underperform” rating in a research report on Friday, April 5th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $157.10.

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.