Savant Capital LLC Sells 76,331 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Savant Capital LLC cut its PNC stake by 86.8% in the fourth quarter, selling 76,331 shares and leaving it with 11,621 shares valued at about $2.43 million.
• Insider selling also occurred, with director Andrew T. Feldstein selling 45,000 shares on May 26 for roughly $9.93 million, reducing his ownership by about 80.7%.
• PNC reported better-than-expected quarterly earnings of $4.32 per share versus $3.92 expected, while analysts currently rate the stock a Moderate Buy with an average price target of $243.11.

Savant Capital LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 86.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,621 shares of the financial services provider's stock after selling 76,331 shares during the quarter. Savant Capital LLC's holdings in The PNC Financial Services Group were worth $2,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. US Bancorp DE boosted its position in shares of The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider's stock valued at $57,714,000 after acquiring an additional 34,009 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of The PNC Financial Services Group by 1.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider's stock valued at $369,169,000 after acquiring an additional 22,325 shares during the period. National Pension Service boosted its position in shares of The PNC Financial Services Group by 2.5% in the third quarter. National Pension Service now owns 1,070,589 shares of the financial services provider's stock valued at $215,113,000 after acquiring an additional 26,305 shares during the period. Teamwork Financial Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $13,711,000. Finally, Vanguard Group Inc. boosted its position in shares of The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider's stock valued at $8,114,168,000 after acquiring an additional 408,464 shares during the period. Institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

PNC has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. increased their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Bank of America lifted their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They set a "buy" rating and a $250.00 price objective for the company. 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $243.11.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company's stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

The PNC Financial Services Group Trading Up 0.1%

PNC stock opened at $221.36 on Monday. The company has a market capitalization of $88.89 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. The PNC Financial Services Group, Inc has a one year low of $170.49 and a one year high of $243.94. The company's 50 day moving average price is $216.27 and its two-hundred day moving average price is $213.24. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted 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 firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate 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 business's revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm posted $3.51 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group's dividend payout ratio (DPR) is 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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