Marcum Wealth LLC Sells 304 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Marcum Wealth LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,243 shares of the financial services provider’s stock after selling 304 shares during the period. Marcum Wealth LLC’s holdings in The PNC Financial Services Group were worth $1,011,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PNC. Loomis Sayles & Co. L P raised its stake in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after buying an additional 50 shares during the period. MFA Wealth Advisors LLC increased its holdings in The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 55 shares during the last quarter. Resonant Capital Advisors LLC raised its stake in The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after acquiring an additional 56 shares during the period. Altman Advisors Inc. lifted its holdings in The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after purchasing an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. boosted its position in The PNC Financial Services Group by 0.5% during the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.9 %

NYSE PNC opened at $192.66 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock’s 50-day simple moving average is $201.61 and its two-hundred day simple moving average is $186.29. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The company has a market capitalization of $76.44 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $3.60 EPS. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.32%. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,272 shares of company stock worth $6,164,890. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Evercore ISI boosted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stephens raised their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $203.29.

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.