Strategic Blueprint LLC Sells 4,694 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Strategic Blueprint LLC trimmed its stake by 76.3% in The PNC Financial Services Group, selling 4,694 shares and retaining 1,460 shares valued at about $305,000.
• Company insiders sold a total of 64,186 shares worth $14.84M over the last three months (including CEO William Demchak's sale of 50,000 shares), leaving insiders with just 0.38% ownership.
• Analysts have been lifting targets and the stock holds a “Moderate Buy” consensus with an average target of $241.72; PNC also beat EPS estimates ($4.32 vs. $3.92) and announced a $1.70 quarterly dividend (3.1% yield).

Strategic Blueprint LLC trimmed its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 76.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,460 shares of the financial services provider's stock after selling 4,694 shares during the period. Strategic Blueprint LLC's holdings in The PNC Financial Services Group were worth $305,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PNC. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of The PNC Financial Services Group by 12.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider's stock worth $11,621,000 after buying an additional 6,572 shares in the last quarter. US Bancorp DE lifted its position in The PNC Financial Services Group by 13.4% in the 3rd 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 in the last quarter. Envestnet Asset Management Inc. lifted its position in The PNC Financial Services Group by 1.2% in the 3rd 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 in the last quarter. National Pension Service lifted its position in The PNC Financial Services Group by 2.5% in the 3rd 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 in the last quarter. Finally, Savant Capital LLC lifted its holdings in shares of The PNC Financial Services Group by 8.7% in the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider's stock valued at $17,672,000 after purchasing an additional 7,064 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PNC has been the topic of a number of 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 report on Thursday, April 16th. JPMorgan Chase & Co. upped their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a report on Thursday. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a report on Thursday, April 16th. Bank of America upped their target price on 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, Royal Bank Of Canada reiterated an "outperform" rating and set a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. One equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $241.72.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $220.92 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $163.11 and a 12 month high of $243.94. The stock's 50 day moving average is $213.91 and its 200-day moving average is $208.29. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $89.11 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.92 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business earned $3.51 earnings per share. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th will be given a $1.70 dividend. The ex-dividend date of this dividend is 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 is presently 39.51%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Louis Robert Cestello sold 4,279 shares of the company's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the transaction, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 50,000 shares of the company's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at $127,970,781.12. The trade was a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 64,186 shares of company stock worth $14,840,973 over the last three months. Company 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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