River Wealth Advisors LLC Lowers Stake in PNC Financial Services Group Inc (PNC)

Share on StockTwits

River Wealth Advisors LLC cut its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 1.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 24,593 shares of the financial services provider’s stock after selling 258 shares during the quarter. PNC Financial Services Group comprises approximately 1.3% of River Wealth Advisors LLC’s portfolio, making the stock its 20th largest holding. River Wealth Advisors LLC’s holdings in PNC Financial Services Group were worth $3,017,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in PNC Financial Services Group in the first quarter worth about $25,000. Field & Main Bank acquired a new stake in PNC Financial Services Group in the first quarter worth about $25,000. Executive Wealth Management LLC acquired a new stake in PNC Financial Services Group in the fourth quarter worth about $29,000. Transamerica Financial Advisors Inc. acquired a new stake in PNC Financial Services Group in the fourth quarter worth about $36,000. Finally, Athena Capital Advisors LLC acquired a new stake in PNC Financial Services Group in the fourth quarter worth about $37,000. Institutional investors own 82.67% of the company’s stock.

In other PNC Financial Services Group news, insider Joseph E. Rockey sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $135.00, for a total transaction of $810,000.00. Following the transaction, the insider now owns 24,747 shares in the company, valued at $3,340,845. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Martin Pfinsgraff bought 500 shares of PNC Financial Services Group stock in a transaction on Thursday, February 21st. The shares were bought at an average price of $125.69 per share, for a total transaction of $62,845.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.

Shares of PNC opened at $130.64 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $152.25. The stock has a market cap of $58.09 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 1.50 and a beta of 1.09.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the business earned $2.43 earnings per share. As a group, equities analysts predict that PNC Financial Services Group Inc will post 11.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Monday, April 15th. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 35.48%.

A number of brokerages recently commented on PNC. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Zacks Investment Research upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. UBS Group set a $133.00 price objective on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Morgan Stanley lifted their price objective on PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Barclays lifted their price objective on PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. PNC Financial Services Group has an average rating of “Hold” and an average price target of $143.63.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by Week Herald and is owned by of Week Herald. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://weekherald.com/2019/05/17/river-wealth-advisors-llc-lowers-stake-in-pnc-financial-services-group-inc-pnc.html.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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.

Featured Story: How to track put option volume

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

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

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.