DT Investment Partners LLC Lowers Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

DT Investment Partners LLC trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,053 shares of the financial services provider’s stock after selling 166 shares during the period. DT Investment Partners LLC’s holdings in The PNC Financial Services Group were worth $1,360,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PNC. Exchange Traded Concepts LLC purchased a new position in The PNC Financial Services Group in the third quarter worth approximately $70,000. Creative Planning lifted its stake in The PNC Financial Services Group by 8.7% during the third quarter. Creative Planning now owns 75,927 shares of the financial services provider’s stock worth $14,035,000 after purchasing an additional 6,055 shares in the last quarter. Swedbank AB lifted its stake in The PNC Financial Services Group by 0.4% during the third quarter. Swedbank AB now owns 212,137 shares of the financial services provider’s stock worth $39,214,000 after purchasing an additional 855 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in The PNC Financial Services Group by 20.9% during the third quarter. SeaCrest Wealth Management LLC now owns 1,926 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 333 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its stake in The PNC Financial Services Group by 3.0% during the third quarter. Sumitomo Life Insurance Co. now owns 6,100 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 180 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the sale, the chief executive officer now owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 13,662 shares of company stock valued at $2,730,549. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $195.23 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The business’s 50-day moving average price is $197.68 and its 200 day moving average price is $190.90. The firm has a market cap of $77.46 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the company earned $3.16 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Citigroup upped their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Barclays increased their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. 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.com, the stock presently has an average rating of “Hold” and an average price target of $205.00.

About The PNC Financial Services Group

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.