Impax Asset Management Group plc Lowers Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Impax Asset Management Group plc reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,565 shares of the financial services provider’s stock after selling 69 shares during the quarter. Impax Asset Management Group plc’s holdings in The PNC Financial Services Group were worth $1,073,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth about $25,000. Richardson Financial Services Inc. lifted its stake in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the fourth quarter worth about $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Valley Wealth Managers Inc. raised its holdings in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 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 Down 0.2 %

Shares of PNC opened at $186.55 on Wednesday. The firm has a market cap of $74.02 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company’s 50-day moving average price is $195.56 and its 200 day moving average price is $192.21. 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 issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.16 earnings per share. On average, sell-side 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analyst Ratings Changes

A number of equities analysts have commented on PNC shares. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup upped their price objective 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. Wells Fargo & Company upped their price objective 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. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley upped their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $205.00.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the transaction, the chief executive officer now directly owns 532,523 shares of the company’s stock, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 13,662 shares of company stock worth $2,713,745 over the last three months. Company insiders own 0.42% of the company’s stock.

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.