Natixis Advisors LLC Lowers Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Natixis Advisors LLC reduced its PNC stake by 7.7% in the fourth quarter, selling 18,537 shares and ending with 222,293 shares valued at about $46.4 million.
• PNC reported stronger-than-expected quarterly earnings, posting $4.32 EPS versus the $3.92 estimate, while revenue rose 13.1% year over year to $6.17 billion.
• Analysts remain generally bullish on PNC, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target price of $243.11.

Natixis Advisors LLC cut its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 222,293 shares of the financial services provider's stock after selling 18,537 shares during the quarter. Natixis Advisors LLC owned approximately 0.06% of The PNC Financial Services Group worth $46,399,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at $1,967,080,000. Viking Global Investors LP raised its stake in shares of The PNC Financial Services Group by 234.9% during the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider's stock valued at $1,598,753,000 after buying an additional 5,581,102 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of The PNC Financial Services Group by 50.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider's stock valued at $700,305,000 after buying an additional 1,162,964 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of The PNC Financial Services Group by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 4,425,905 shares of the financial services provider's stock valued at $889,297,000 after buying an additional 1,086,941 shares during the period. Finally, Capital International Investors lifted its holdings in shares of The PNC Financial Services Group by 6.0% in the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider's stock valued at $2,177,318,000 after buying an additional 609,755 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated 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 directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup raised their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Bank of America boosted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Barclays upped their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $243.11.

The PNC Financial Services Group Trading Down 1.1%

Shares of PNC stock opened at $218.52 on Thursday. 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 market cap of $87.75 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a 50 day simple moving average of $217.24 and a 200-day simple moving average of $213.95.

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 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to analyst estimates 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 firm's revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.51 EPS. On average, equities research analysts expect 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 business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio 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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