Rockefeller Capital Management L.P. Has $45.40 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Rockefeller Capital Management increased its PNC stake by 48.9% in the fourth quarter, ending with 217,518 shares valued at about $45.4 million.
• PNC continues to draw strong institutional interest, with hedge funds and other institutions owning 83.53% of the stock overall.
• The company reported quarterly EPS of $4.32, beating estimates, and recently paid a $1.70 quarterly dividend, equal to a 2.9% yield.

Rockefeller Capital Management L.P. grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 48.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 217,518 shares of the financial services provider's stock after acquiring an additional 71,433 shares during the quarter. Rockefeller Capital Management L.P. owned 0.05% of The PNC Financial Services Group worth $45,403,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. World Investment Advisors raised its stake in The PNC Financial Services Group by 123.5% in the 4th quarter. World Investment Advisors now owns 10,984 shares of the financial services provider's stock worth $2,293,000 after purchasing an additional 6,069 shares in the last quarter. Nalls Sherbakoff Group LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $46,000. Larry Mathis Financial Planning LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $396,000. Advisortrust Partners LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $5,018,000. Finally, Corient Private Wealth LLC increased its holdings in shares of The PNC Financial Services Group by 8.5% during the fourth quarter. Corient Private Wealth LLC now owns 268,809 shares of the financial services provider's stock worth $56,117,000 after purchasing an additional 21,061 shares during the period. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the subject of several recent research reports. Barclays boosted their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. raised their price objective on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a report 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 report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $246.72.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $232.39 on Friday. The company has a 50 day moving average of $222.68 and a 200-day moving average of $217.55. The PNC Financial Services Group, Inc has a 1-year low of $176.16 and a 1-year high of $243.94. 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 company has a market cap of $93.32 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $6.21 billion. During the same period last year, the firm posted $3.51 earnings per share. The firm's quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 39.51%.

Insider Activity

In related news, EVP Michael Duane Thomas sold 1,500 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company's stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 48,300 shares of company stock worth $10,694,574. Insiders own 0.38% of the company's stock.

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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