Cetera Advisor Networks LLC lessened its position in PNC Financial Services Group Inc (NYSE:PNC) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,341 shares of the financial services provider’s stock after selling 1,650 shares during the period. Cetera Advisor Networks LLC’s holdings in PNC Financial Services Group were worth $976,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. IMS Capital Management bought a new position in shares of PNC Financial Services Group in the third quarter valued at approximately $28,000. Transamerica Financial Advisors Inc. bought a new position in shares of PNC Financial Services Group in the fourth quarter valued at approximately $36,000. Athena Capital Advisors LLC bought a new position in shares of PNC Financial Services Group in the fourth quarter valued at approximately $37,000. Ipswich Investment Management Co. Inc. bought a new position in shares of PNC Financial Services Group in the fourth quarter valued at approximately $43,000. Finally, Capital Financial Planning LLC bought a new position in shares of PNC Financial Services Group in the fourth quarter valued at approximately $44,000. 82.27% of the stock is owned by institutional investors and hedge funds.
In related news, Director Martin Pfinsgraff bought 500 shares of the stock in a transaction dated Thursday, February 21st. The stock was bought at an average price of $125.69 per share, with a total value of $62,845.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Hannon sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $124.82, for a total value of $624,100.00. Following the transaction, the insider now owns 53,239 shares in the company, valued at approximately $6,645,291.98. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
NYSE:PNC traded down $0.68 during trading hours on Friday, hitting $133.19. 2,392,438 shares of the company’s stock traded hands, compared to its average volume of 2,060,061. The firm has a market capitalization of $60.42 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.55 and a beta of 1.05. PNC Financial Services Group Inc has a 52 week low of $108.45 and a 52 week high of $152.29. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.90 and a current ratio of 0.91.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.61. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the company posted $2.43 earnings per share. Equities analysts forecast that PNC Financial Services Group Inc will post 11.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Monday, April 15th. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 35.48%.
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PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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