Aristotle Capital Management LLC Sells 272,676 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Aristotle Capital Management trimmed its stake in PNC by 5.7%, selling 272,676 shares to finish the quarter with 4,541,666 shares (about 1.16% of PNC) valued at roughly $912.6 million.
• PNC beat Q3 estimates, reporting $4.88 EPS versus $4.23 expected and $6.07 billion in revenue, and it pays a $1.70 quarterly dividend (annualized $6.80) for about a 3.4% yield.
• Insiders have been selling recently—CEO William Demchak sold 50,000 shares for roughly $11.5 million—while institutional investors own about 83.5% of the stock and analysts show a consensus "Moderate Buy" with an average target of $234.44.

Aristotle Capital Management LLC trimmed its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,541,666 shares of the financial services provider's stock after selling 272,676 shares during the period. The PNC Financial Services Group comprises approximately 1.8% of Aristotle Capital Management LLC's investment portfolio, making the stock its 24th biggest position. Aristotle Capital Management LLC owned approximately 1.16% of The PNC Financial Services Group worth $912,575,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The PNC Financial Services Group by 12.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider's stock valued at $11,621,000 after buying an additional 6,572 shares during the period. US Bancorp DE grew its holdings in The PNC Financial Services Group by 13.4% during the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider's stock worth $57,714,000 after acquiring an additional 34,009 shares during the period. Envestnet Asset Management Inc. grew its holdings in The PNC Financial Services Group by 1.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider's stock worth $369,169,000 after acquiring an additional 22,325 shares during the period. National Pension Service raised its position in shares of The PNC Financial Services Group by 2.5% in the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider's stock worth $215,113,000 after acquiring an additional 26,305 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider's stock valued at $17,672,000 after purchasing an additional 7,064 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $200.98 on Friday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $243.94. The company has a market cap of $81.07 billion, a PE ratio of 12.11, a P/E/G ratio of 0.84 and a beta of 0.98. The stock has a 50-day moving average of $221.54 and a 200-day moving average of $205.29. The company has a debt-to-equity ratio of 0.90, 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 Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts' consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the prior year, the business earned $3.77 EPS. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 40.99%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Louis Robert Cestello sold 4,279 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the transaction, the executive vice president owned 18,867 shares in the company, valued at approximately $4,415,066.67. This represents a 18.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 50,000 shares of the firm's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,186 shares of company stock valued at $14,840,973 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the topic of several research analyst reports. Morgan Stanley upped their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an "underweight" rating in a research report on Tuesday, January 20th. Barclays lifted their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an "overweight" rating in a report on Monday, January 5th. TD Cowen increased their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Oppenheimer raised their price objective on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a "market perform" rating in a research note on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.44.

The PNC Financial Services Group Company 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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