Advisortrust Partners LLC Acquires Shares of 24,039 The PNC Financial Services Group, Inc $PNC

Key Points

• Advisortrust Partners LLC opened a new position in The PNC Financial Services Group, buying 24,039 shares worth about $5.0 million in the fourth quarter. The stake now represents roughly 2.2% of Advisortrust’s portfolio.
• Wall Street sentiment remains constructive on PNC, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating. The average analyst price target is $246.72.
• PNC reported strong quarterly results, beating earnings estimates with $4.32 EPS versus expectations of $3.92, while also paying a $1.70 quarterly dividend that works out to a 2.9% yield.

Advisortrust Partners LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,039 shares of the financial services provider's stock, valued at approximately $5,018,000. The PNC Financial Services Group makes up approximately 2.2% of Advisortrust Partners LLC's portfolio, making the stock its 12th biggest position.

A number of other institutional investors also recently modified their holdings of the company. Monetary Solutions Ltd bought a new position in The PNC Financial Services Group during the 4th quarter valued at $25,000. Quarry LP bought a new stake in The PNC Financial Services Group during the third quarter worth $25,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth $29,000. Kemnay Advisory Services Inc. purchased a new position in The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, EFG International AG bought a new position in The PNC Financial Services Group in the 4th quarter valued at $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 16th. Bank of America increased their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They set a "buy" rating and a $250.00 price target for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. upped their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $246.72.

Insider Buying and Selling

In other news, EVP Stephanie Novosel sold 1,800 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,300 shares of company stock worth $10,694,574 in the last ninety days. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 0.1%

Shares of PNC stock opened at $232.39 on Friday. The business has a 50-day moving average price of $222.68 and a two-hundred day moving average price of $217.55. The PNC Financial Services Group, Inc has a 12-month low of $176.16 and a 12-month high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market cap of $93.32 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts' consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate 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 PNC Financial Services Group's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.81 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 39.51%.

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.

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