Barclays PLC Has $230.54 Million Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Barclays PLC trimmed its PNC stake by 16.2% in the fourth quarter, selling 213,368 shares and ending with 1,104,499 shares valued at about $230.5 million.
• PNC’s latest quarterly earnings beat expectations, with EPS of $4.32 versus the $3.92 consensus, while revenue rose 13.1% year over year to $6.17 billion.
• Analysts remain broadly constructive on the stock, with a consensus rating of “Moderate Buy” and an average target price of $243.11; PNC also pays a quarterly dividend of $1.70 per share, yielding about 2.9%.

Barclays PLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,104,499 shares of the financial services provider's stock after selling 213,368 shares during the period. Barclays PLC owned 0.28% of The PNC Financial Services Group worth $230,542,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PNC. Brighton Jones LLC raised its stake 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 buying an additional 984 shares during the last quarter. Empowered Funds LLC raised its stake in The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider's stock worth $1,452,000 after buying an additional 170 shares during the last quarter. Sivia Capital Partners LLC raised its stake in The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider's stock worth $807,000 after buying an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in The PNC Financial Services Group by 1.5% during the second 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 buying an additional 2,808 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new position in The PNC Financial Services Group during the second quarter worth $482,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were 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 $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company's stock, valued at $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a research note on Thursday, April 16th. Barclays lifted their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Weiss Ratings reissued a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Oppenheimer lifted their target price on shares of 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. Finally, Morgan Stanley lifted their target price 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 note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and a consensus target price of $243.11.

The PNC Financial Services Group Trading Down 0.1%

PNC opened at $237.51 on Monday. The PNC Financial Services Group, Inc has a 1-year low of $172.73 and a 1-year high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company has a market cap of $95.38 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. The company has a fifty day moving average price of $220.85 and a two-hundred day moving average price of $216.30.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm 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 net margin of 20.89% and a return on equity of 12.10%. The business's revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.51 earnings per share. Analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 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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