Aquatic Capital Management LLC Sells 56,723 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Aquatic Capital Management LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 78.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,377 shares of the financial services provider's stock after selling 56,723 shares during the quarter. Aquatic Capital Management LLC's holdings in The PNC Financial Services Group were worth $2,965,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Baltimore Washington Financial Advisors Inc. grew its holdings in The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock valued at $324,000 after buying an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock valued at $434,000 after buying an additional 53 shares in the last quarter. Transcend Capital Advisors LLC raised its stake in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock worth $616,000 after acquiring an additional 55 shares in the last quarter. Valmark Advisers Inc. lifted its stake in The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock worth $773,000 after purchasing an additional 56 shares during the last quarter. Finally, Gilbert & Cook Inc. boosted its holdings in The PNC Financial Services Group by 2.1% during the 4th quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research analyst reports. Citigroup reduced their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Barclays cut their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Morgan Stanley cut their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Hold" and an average target price of $200.88.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $158.49 on Monday. The stock has a market cap of $62.72 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a fifty day moving average price of $169.74 and a 200-day moving average price of $188.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now owns 522,587 shares of the company's stock, valued at $105,620,058.57. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 12,420 shares of company stock valued at $2,172,655. Corporate insiders own 0.41% 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.

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