Nicholas Hoffman & Company LLC. Sells 760 Shares of PNC Financial Services Group Inc (PNC)

Nicholas Hoffman & Company LLC. lessened its stake in PNC Financial Services Group Inc (NYSE:PNC) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,970 shares of the financial services provider’s stock after selling 760 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in PNC Financial Services Group were worth $1,294,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Cetera Investment Advisers grew its position in PNC Financial Services Group by 2.0% in the second quarter. Cetera Investment Advisers now owns 2,364 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 46 shares during the period. Harbour Capital Advisors LLC grew its position in PNC Financial Services Group by 4.9% in the fourth quarter. Harbour Capital Advisors LLC now owns 6,833 shares of the financial services provider’s stock worth $986,000 after acquiring an additional 320 shares during the period. Global X Management Co. LLC grew its position in PNC Financial Services Group by 3.8% in the fourth quarter. Global X Management Co. LLC now owns 9,939 shares of the financial services provider’s stock worth $1,434,000 after acquiring an additional 362 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in PNC Financial Services Group by 0.3% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 145,889 shares of the financial services provider’s stock worth $19,661,000 after acquiring an additional 371 shares during the period. Finally, Brighton Jones LLC grew its position in PNC Financial Services Group by 22.0% in the fourth quarter. Brighton Jones LLC now owns 2,083 shares of the financial services provider’s stock worth $301,000 after acquiring an additional 375 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the company. Morgan Stanley increased their price objective on PNC Financial Services Group from $165.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. BMO Capital Markets reiterated a “buy” rating on shares of PNC Financial Services Group in a research report on Thursday, January 25th. Argus increased their price objective on PNC Financial Services Group to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Oppenheimer reiterated a “hold” rating on shares of PNC Financial Services Group in a research report on Tuesday, January 16th. Finally, Wells Fargo & Co set a $157.00 price objective on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Eighteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $145.98.

PNC Financial Services Group Inc (NYSE PNC) opened at $159.08 on Friday. PNC Financial Services Group Inc has a 52-week low of $115.25 and a 52-week high of $160.81. The company has a market capitalization of $75,244.84, a price-to-earnings ratio of 18.69, a PEG ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the business posted $1.97 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. equities research analysts predict that PNC Financial Services Group Inc will post 10.44 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, January 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.89%. PNC Financial Services Group’s dividend payout ratio is currently 28.85%.

In other news, insider E William Parsley III sold 25,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total value of $3,467,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael J. Hannon sold 8,011 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total value of $1,235,296.20. Following the completion of the sale, the insider now owns 58,820 shares in the company, valued at $9,070,044. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,894 shares of company stock valued at $14,897,513. Company insiders own 0.43% of the company’s stock.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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