Mitsubishi UFJ Trust & Banking Corp Lowers Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its stake in PNC by 6.5%, selling 21,397 shares and retaining 307,835 shares valued at about $64.25 million.
• PNC beat earnings with $4.32 EPS (vs. $3.92 est.) and revenue of $6.17 billion (up 13.1% YoY), and announced a $1.70 quarterly dividend (3.1% yield).
• Insiders sold 64,186 shares (~$14.84M) in the last quarter while institutional investors hold ~83.53% of the stock; analysts rate the stock a Moderate Buy with an average target of $241.69.

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 307,835 shares of the financial services provider's stock after selling 21,397 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of The PNC Financial Services Group worth $64,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Quarry LP bought a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. Beacon Financial Strategies CORP bought a new position in The PNC Financial Services Group in the fourth quarter worth approximately $35,000. Westfuller Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $34,000. JPL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $37,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group in the 3rd quarter worth $39,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $220.83 on Wednesday. The company has a market cap of $89.08 billion, a P/E ratio of 12.83, a PEG ratio of 0.92 and a beta of 0.96. The business has a 50 day moving average of $214.34 and a two-hundred day moving average of $208.12. The PNC Financial Services Group, Inc has a 52 week low of $156.70 and a 52 week 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 1.00.

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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the company posted $3.51 EPS. The firm's revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is 39.51%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares of the company's stock, valued at $4,415,066.67. This represents a 18.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of The PNC Financial Services Group stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the sale, the executive vice president directly owned 21,120 shares of the company's stock, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock valued at $14,840,973 in the last quarter. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PNC shares. TD Cowen upped their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, January 20th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of The PNC Financial Services Group from $251.00 to $237.50 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Barclays increased their price target on 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. Finally, Oppenheimer increased their target price 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. One 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $241.69.

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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