The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Cut by Argyle Capital Management Inc.

Argyle Capital Management Inc. decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,993 shares of the financial services provider’s stock after selling 2,800 shares during the period. The PNC Financial Services Group makes up 2.1% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 10th largest holding. Argyle Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $4,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC boosted its position in The PNC Financial Services Group by 6.7% during the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after acquiring an additional 893,808 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after buying an additional 484,475 shares in the last quarter. Northern Trust Corp grew its position in shares of The PNC Financial Services Group by 2.0% in the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock worth $577,267,000 after buying an additional 93,636 shares during the period. Morgan Stanley increased its stake in shares of The PNC Financial Services Group by 1.0% in the 3rd quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock worth $473,767,000 after acquiring an additional 36,362 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in The PNC Financial Services Group by 2.5% during the 3rd quarter. Royal Bank of Canada now owns 3,327,229 shares of the financial services provider’s stock valued at $408,485,000 after acquiring an additional 82,406 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective 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. Bank of America boosted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Evercore ISI reduced their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, UBS Group raised their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given 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 an average target price of $156.63.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $0.19 during midday trading on Friday, reaching $156.11. 979,208 shares of the company traded hands, compared to its average volume of 1,683,569. The firm has a market capitalization of $62.10 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. 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 business has a 50 day moving average of $152.76 and a two-hundred day moving average of $143.51. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 quarter in the prior year, the business earned $3.98 earnings per share. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. 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 at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by company 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.