Certuity LLC Sells 6,061 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Certuity LLC trimmed its stake in The PNC Financial Services Group by 5.6%, selling 6,061 shares to hold 102,083 shares valued at about $21.31 million, roughly 1.0% of its portfolio and the fund's 18th-largest position.
• Analysts have been raising price targets and the consensus rating is a Moderate Buy with a $241.69 target; PNC also beat quarterly EPS estimates ($4.32 vs. $3.92) and reported 13.1% year-over-year revenue growth.
• PNC pays a $1.70 quarterly dividend (annualized $6.80, ~3.1% yield) while insiders have been net sellers—64,186 shares worth $14.84 million over the past 90 days—amid high institutional ownership (83.53%).

Certuity LLC lowered its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 102,083 shares of the financial services provider's stock after selling 6,061 shares during the period. The PNC Financial Services Group comprises about 1.0% of Certuity LLC's portfolio, making the stock its 18th biggest position. Certuity LLC's holdings in The PNC Financial Services Group were worth $21,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP bought a new stake in The PNC Financial Services Group during the 3rd quarter worth $25,000. Westfuller Advisors LLC bought a new stake in The PNC Financial Services Group during the 3rd quarter worth $34,000. Beacon Financial Strategies CORP bought a new stake in The PNC Financial Services Group during the 4th quarter worth $35,000. JPL Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 3rd quarter worth $37,000. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group during the 3rd quarter worth $39,000. Institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America boosted their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Royal Bank Of Canada restated an "outperform" rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. 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 report on Thursday, April 16th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company upped their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus target price of $241.69.

The PNC Financial Services Group Trading Up 0.7%

NYSE PNC opened at $221.45 on Tuesday. The business's 50-day moving average price is $214.54 and its two-hundred day moving average price is $207.85. The PNC Financial Services Group, Inc has a 12 month low of $156.70 and a 12 month high of $243.94. The firm has a market capitalization of $89.33 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.00.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the company posted $3.51 EPS. The business's revenue was up 13.1% on a year-over-year basis. On average, analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, April 14th. The PNC Financial Services Group's payout ratio is currently 39.51%.

Insiders Place Their Bets

In other news, EVP Louis Robert Cestello sold 4,279 shares of the business's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the transaction, the executive vice president directly owned 18,867 shares of the company's stock, valued at $4,415,066.67. The trade was a 18.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the transaction, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. This represents a 79.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 64,186 shares of company stock valued at $14,840,973 over the last 90 days. 0.38% of the stock is owned by company insiders.

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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