Natixis Advisors LLC Decreases Stake in The PNC Financial Services Group, Inc $PNC

Natixis Advisors LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.7% during the 4th quarter, HoldingsChannel reports. The firm owned 222,293 shares of the financial services provider’s stock after selling 18,537 shares during the period. Natixis Advisors LLC’s holdings in The PNC Financial Services Group were worth $46,399,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 984 shares during the last quarter. Empowered Funds LLC raised its holdings in The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after acquiring an additional 170 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in The PNC Financial Services Group by 50.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in The PNC Financial Services Group by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after purchasing an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $482,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Oppenheimer boosted their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Morgan Stanley upped their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Citigroup upped their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.11.

The PNC Financial Services Group Stock Down 1.1%

PNC stock opened at $218.52 on Thursday. The PNC Financial Services Group, Inc has a one year low of $172.73 and a one year high of $243.94. The firm has a market cap of $87.75 billion, a PE ratio of 12.70, a PEG ratio of 0.92 and a beta of 0.92. The firm’s 50 day moving average price is $217.24 and its 200-day moving average price is $213.95. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.51 earnings per share. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.