Citizens Financial Group Inc. RI Sells 37,572 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Citizens Financial Group Inc. RI trimmed its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 68.9% in the 4th quarter, HoldingsChannel reports. The fund owned 16,962 shares of the financial services provider’s stock after selling 37,572 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in The PNC Financial Services Group were worth $2,627,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Steph & Co. increased its position in The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after buying an additional 67 shares in the last quarter. Bangor Savings Bank increased its position in The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after buying an additional 69 shares in the last quarter. Oakworth Capital Inc. increased its position in The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after buying an additional 75 shares in the last quarter. Caprock Group LLC increased its position in The PNC Financial Services Group by 0.9% during the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after buying an additional 79 shares in the last quarter. Finally, Legacy Advisors LLC increased its position in The PNC Financial Services Group by 0.8% during the 3rd quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock valued at $1,338,000 after buying an additional 84 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PNC shares. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Evercore ISI cut their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $156.63.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.19 during mid-day trading on Friday, reaching $156.11. The company had a trading volume of 979,208 shares, compared to its average volume of 1,683,569. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $62.10 billion, a P/E ratio of 13.11, a PEG ratio of 1.76 and a beta of 1.18. The stock has a 50 day moving average of $152.76 and a two-hundred day moving average of $143.22.

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, topping analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 earnings per share. On average, analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction that occurred 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 in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.