Golden State Equity Partners Sells 328 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Golden State Equity Partners reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,847 shares of the financial services provider’s stock after selling 328 shares during the period. Golden State Equity Partners’ holdings in The PNC Financial Services Group were worth $286,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PNC. OFI Invest Asset Management bought a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its position in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. Jefferies Financial Group lowered their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. UBS Group boosted their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Evercore ISI decreased their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $156.63.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $156.11 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $62.10 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.76 and a beta of 1.18. The business’s fifty day moving average is $152.76 and its two-hundred day moving average is $143.36. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now 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 Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by insiders.

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.