RKL Wealth Management LLC Cuts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

RKL Wealth Management LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,559 shares of the financial services provider’s stock after selling 400 shares during the quarter. RKL Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp grew its holdings in The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after buying an additional 100,573 shares in the last quarter. Franklin Resources Inc. grew its holdings in The PNC Financial Services Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after buying an additional 123,994 shares in the last quarter. Geode Capital Management LLC grew its holdings in The PNC Financial Services Group by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after buying an additional 166,138 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after buying an additional 710,311 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in The PNC Financial Services Group by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after buying an additional 42,887 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.4 %

NYSE:PNC opened at $179.75 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The company has a market cap of $71.14 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The stock has a fifty day simple moving average of $194.20 and a 200-day simple moving average of $192.68. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the company earned $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.56%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup raised their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Barclays raised their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $205.00.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the completion of the sale, the chief executive officer now directly owns 569,783 shares in the company, valued at $108,361,330.94. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 12,420 shares of company stock worth $2,421,788. 0.42% of the stock is currently owned by insiders.

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.