Congress Wealth Management LLC DE Reduces Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Congress Wealth Management LLC DE decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 40.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,688 shares of the financial services provider’s stock after selling 69,740 shares during the period. Congress Wealth Management LLC DE’s holdings in The PNC Financial Services Group were worth $20,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in The PNC Financial Services Group during the 4th quarter worth $281,000. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after acquiring an additional 268,827 shares in the last quarter. LPL Financial LLC grew its holdings in The PNC Financial Services Group by 4.9% during the 4th quarter. LPL Financial LLC now owns 659,603 shares of the financial services provider’s stock worth $127,204,000 after acquiring an additional 30,706 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in The PNC Financial Services Group during the 4th quarter worth $32,736,000. Finally, Umpqua Bank grew its holdings in The PNC Financial Services Group by 5.9% during the 4th quarter. Umpqua Bank now owns 11,768 shares of the financial services provider’s stock worth $2,303,000 after acquiring an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares in the company, valued at approximately $101,369,693.25. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 12,420 shares of company stock worth $2,369,165. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on PNC shares. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Barclays raised their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Finally, Citigroup lifted their price target 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $203.71.

The PNC Financial Services Group Trading Down 0.0 %

The PNC Financial Services Group stock opened at $173.35 on Monday. 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 firm has a 50-day moving average price of $190.03 and a two-hundred day moving average price of $192.34. The firm has a market capitalization of $68.60 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during 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 PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.16 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced 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. This represents a $6.40 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

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.