UNIVEST FINANCIAL Corp Trims Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

UNIVEST FINANCIAL Corp cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,734 shares of the financial services provider’s stock after selling 296 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in The PNC Financial Services Group were worth $578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $28,000. Finally, Criterion Capital Advisors LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PNC. JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. UBS Group increased their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, Wells Fargo & Company increased 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 research note on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $157.02.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $0.28 during mid-day trading on Tuesday, hitting $156.15. The company had a trading volume of 1,082,264 shares, compared to its average volume of 2,047,484. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company’s fifty day moving average is $153.82 and its 200-day moving average is $145.08. The company has a market capitalization of $62.12 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.98 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, April 12th. 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 firm’s 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 directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

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.