Harbor Investment Advisory LLC Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Harbor Investment Advisory LLC lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,812 shares of the financial services provider’s stock after selling 218 shares during the period. Harbor Investment Advisory LLC’s holdings in The PNC Financial Services Group were worth $778,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Rockline Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $1,825,000. KPP Advisory Services LLC bought a new position in The PNC Financial Services Group during the 3rd quarter valued at about $323,000. AQR Capital Management LLC lifted 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 period. Trust Point Inc. purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $295,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Evercore ISI dropped their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Jefferies Financial Group reduced their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $157.83.

Insider Activity at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $154.90 on Tuesday. The business has a 50-day moving average of $154.84 and a 200 day moving average of $152.66. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The stock has a market capitalization of $61.64 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business posted $3.98 EPS. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 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 Sunday, May 5th. Investors of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

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.