Avior Wealth Management LLC Decreases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Avior Wealth Management LLC cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,153 shares of the financial services provider’s stock after selling 379 shares during the quarter. Avior Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rockline Wealth Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at $1,825,000. KPP Advisory Services LLC bought a new position in The PNC Financial Services Group during the 3rd quarter valued at $323,000. AQR Capital Management LLC boosted 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 valued at $14,032,000 after acquiring an additional 67,490 shares during the last quarter. Trust Point Inc. bought a new position in The PNC Financial Services Group during the 4th quarter valued at $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in The PNC Financial Services Group during the 4th quarter valued at $295,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $147.25 on Thursday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $151.80 and a 200-day moving average of $141.68. The firm has a market cap of $58.58 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the firm posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

Analyst Ratings Changes

A number of brokerages have weighed in on PNC. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday. Evercore ISI dropped their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company increased their target price on shares of 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, The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $156.46.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

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.