Summit Investment Advisors Inc. Sells 95 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Summit Investment Advisors Inc. lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,962 shares of the financial services provider’s stock after selling 95 shares during the period. Summit Investment Advisors Inc.’s holdings in The PNC Financial Services Group were worth $3,657,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.7% during the fourth 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. Franklin Resources Inc. lifted its holdings in The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after purchasing an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after purchasing an additional 726,115 shares during the period. Norges Bank purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $1,352,151,000. Finally, Bank of New York Mellon Corp increased its position in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after buying an additional 710,311 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $151.57 on Monday. The company has a market cap of $59.98 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s fifty day moving average is $178.30 and its two-hundred day moving average is $190.22.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping 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 the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Buying and Selling

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 on Friday, January 24th. The shares were sold at an average price of $196.17, for a total value of $243,643.14. Following the completion of the transaction, the chief executive officer now directly owns 523,829 shares of the company’s stock, valued at $102,759,534.93. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 12,420 shares of company stock worth $2,276,870. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PNC. Barclays boosted their price objective on shares of 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. Wells Fargo & Company reduced their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Finally, Morgan Stanley dropped their price target on The PNC Financial Services Group from $188.00 to $179.00 and set an “underweight” rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $203.47.

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.