Arrowstreet Capital Limited Partnership Has $43.06 Million Stake in The PNC Financial Services Group, Inc $PNC

Arrowstreet Capital Limited Partnership lowered its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 66.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,923 shares of the financial services provider's stock after selling 414,964 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.05% of The PNC Financial Services Group worth $43,059,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cvfg LLC grew its stake in The PNC Financial Services Group by 2.5% in the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider's stock valued at $366,000 after acquiring an additional 43 shares during the period. YANKCOM Partnership lifted its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock worth $539,000 after purchasing an additional 46 shares in the last quarter. Westfuller Advisors LLC grew its position in The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 46 shares during the period. Baron Wealth Management LLC increased its stake in The PNC Financial Services Group by 3.0% during the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider's stock valued at $325,000 after purchasing an additional 46 shares in the last quarter. Finally, Atom Investors LP increased its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider's stock valued at $529,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In related news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $251.79 on Wednesday. The company has a fifty day moving average price of $238.39 and a 200-day moving average price of $225.41. The firm has a market cap of $101.11 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $256.49.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts' consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The company had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the firm earned $3.85 earnings per share. The firm's revenue was up 21.4% on a year-over-year basis. As a group, equities research analysts predict that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. The PNC Financial Services Group's payout ratio is 44.03%.

Analyst Ratings Changes

A number of research analysts have weighed in on PNC shares. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Argus upped their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Stephens raised their price target on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on The PNC Financial Services Group from $238.00 to $264.50 and gave the company an "overweight" rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $265.48.

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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