National Pension Service Has $200.20 Million Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• National Pension Service cut its PNC stake by 10.4% in the fourth quarter, but still held 959,119 shares valued at about $200.2 million as of its latest filing.
• Insider selling was notable, with director Andrew T. Feldstein selling 45,000 shares for about $9.93 million, reducing his position by more than 80%.
• PNC’s fundamentals and outlook were solid: the company beat quarterly EPS estimates, raised its quarterly dividend to $1.70 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $243.11.

National Pension Service trimmed its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 959,119 shares of the financial services provider's stock after selling 111,470 shares during the period. National Pension Service owned about 0.24% of The PNC Financial Services Group worth $200,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNC. Quarry LP acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $25,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $35,000. JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $37,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $39,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of The PNC Financial Services Group by 2,100.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider's stock worth $39,000 after acquiring an additional 168 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 value of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares of the company's stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Oppenheimer lifted their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a "buy" rating and a $250.00 price target on the stock. Finally, Citigroup lifted their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $243.11.

The PNC Financial Services Group Stock Up 0.7%

Shares of PNC stock opened at $221.36 on Friday. 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 PNC Financial Services Group, Inc has a 1 year low of $170.49 and a 1 year high of $243.94. The firm's fifty day moving average price is $216.27 and its two-hundred day moving average price is $213.05. The firm has a market capitalization of $88.89 billion, a P/E ratio of 12.86, a PEG ratio of 0.91 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the business earned $3.51 EPS. The company's revenue was up 13.1% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were given 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 was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is 39.51%.

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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