Natixis Advisors LLC Sells 43,236 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Natixis Advisors cut its stake in The PNC Financial Services Group by 15.2%, selling 43,236 shares and leaving it with 240,830 shares worth about $48.39 million.
• PNC reported a strong quarter, with EPS $4.88 beating the $4.23 estimate and revenue of $6.07 billion topping expectations, helping drive upward analyst revisions.
• Institutional activity is significant—First Trust Advisors raised its position to about 1.999 million shares (adding 430,261 shares), institutional ownership stands at ~83.5%, and analysts carry a consensus "Moderate Buy" with an average target of $234.44.

Natixis Advisors LLC lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 15.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 240,830 shares of the financial services provider's stock after selling 43,236 shares during the period. Natixis Advisors LLC owned approximately 0.06% of The PNC Financial Services Group worth $48,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth approximately $4,900,000. Ameriflex Group Inc. boosted its position in shares of The PNC Financial Services Group by 101.3% during the third quarter. Ameriflex Group Inc. now owns 1,572 shares of the financial services provider's stock valued at $316,000 after buying an additional 791 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in The PNC Financial Services Group by 5.1% during the third quarter. Angeles Wealth Management LLC now owns 1,256 shares of the financial services provider's stock worth $252,000 after buying an additional 61 shares in the last quarter. Blair William & Co. IL lifted its stake in The PNC Financial Services Group by 12.0% during the 3rd quarter. Blair William & Co. IL now owns 56,166 shares of the financial services provider's stock valued at $11,285,000 after acquiring an additional 6,015 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in The PNC Financial Services Group by 27.4% during the 3rd quarter. First Trust Advisors LP now owns 1,998,954 shares of the financial services provider's stock worth $401,650,000 after acquiring an additional 430,261 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $205.25 on Tuesday. The company has a market capitalization of $82.79 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.86 and a beta of 0.98. The company's 50-day moving average is $222.03 and its 200 day moving average is $205.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.77 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 40.99%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays increased their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an "overweight" rating in a report on Monday, January 5th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an "overweight" rating in a research note on Monday, February 9th. Oppenheimer lifted their target price on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 20th. Finally, Morgan Stanley boosted their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $234.44.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president directly owned 18,867 shares of the company's stock, valued at approximately $4,415,066.67. This represents a 18.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the firm's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value 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 $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 64,186 shares of company stock worth $14,840,973. 0.41% of the stock is currently owned by company insiders.

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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