River Road Asset Management LLC Has $19.75 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• River Road Asset Management trimmed its PNC stake by 4.6% in the fourth quarter, ending with 94,629 shares valued at about $19.75 million.
• Insiders were net sellers over the past three months, with executive Michael Duane Thomas and director Andrew T. Feldstein among those selling shares; total insider sales came to 48,300 shares worth about $10.7 million.
• Analysts remain cautiously bullish on PNC: the stock has a consensus “Moderate Buy” rating and an average price target of $246.72, while the company recently beat quarterly EPS estimates and pays a 2.9% dividend yield.

River Road Asset Management LLC lowered its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,629 shares of the financial services provider's stock after selling 4,514 shares during the quarter. River Road Asset Management LLC's holdings in The PNC Financial Services Group were worth $19,752,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PNC. Monetary Solutions Ltd acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at $25,000. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $25,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, EFG International AG bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $33,000. 83.53% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,300 shares of company stock valued at $10,694,574 over the last three months. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PNC shares. Morgan Stanley upped their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. Oppenheimer raised their price target on 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. JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Stephens began coverage on The PNC Financial Services Group in a research note on Monday. They set an "overweight" rating and a $265.00 price objective on the stock. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $246.72.

The PNC Financial Services Group Stock Down 0.3%

Shares of PNC stock opened at $232.39 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The firm's 50-day moving average is $222.45 and its 200-day moving average is $217.44. The stock has a market cap of $93.32 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.97 and a beta of 0.92. The PNC Financial Services Group, Inc has a 52-week low of $176.16 and a 52-week high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its 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 business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the business posted $3.51 EPS. The PNC Financial Services Group's revenue was up 13.1% on a year-over-year basis. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm 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 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 39.51%.

About The PNC Financial Services Group

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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