First Republic Investment Management Inc. Trims Stake in PNC Financial Services Group Inc (PNC)

First Republic Investment Management Inc. trimmed its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 450,221 shares of the financial services provider’s stock after selling 3,849 shares during the period. First Republic Investment Management Inc. owned 0.10% of PNC Financial Services Group worth $64,962,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Intl Fcstone Inc. acquired a new position in shares of PNC Financial Services Group during the second quarter worth about $678,000. Eqis Capital Management Inc. acquired a new position in shares of PNC Financial Services Group during the third quarter worth about $516,000. Assenagon Asset Management S.A. increased its stake in shares of PNC Financial Services Group by 271.3% during the third quarter. Assenagon Asset Management S.A. now owns 66,205 shares of the financial services provider’s stock worth $8,922,000 after acquiring an additional 48,376 shares during the period. Foster & Motley Inc. increased its stake in shares of PNC Financial Services Group by 9.0% during the third quarter. Foster & Motley Inc. now owns 14,003 shares of the financial services provider’s stock worth $1,887,000 after acquiring an additional 1,155 shares during the period. Finally, Gilman Hill Asset Management LLC acquired a new position in shares of PNC Financial Services Group during the third quarter worth about $201,000. 80.87% of the stock is owned by institutional investors and hedge funds.

Shares of PNC Financial Services Group Inc (NYSE PNC) opened at $159.13 on Wednesday. PNC Financial Services Group Inc has a fifty-two week low of $115.25 and a fifty-two week high of $160.81. The stock has a market cap of $75,244.84, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. equities research analysts expect that PNC Financial Services Group Inc will post 10.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.85%.

PNC has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of PNC Financial Services Group to $170.00 and gave the stock an “average” rating in a research note on Friday, January 12th. Piper Jaffray Companies reiterated a “buy” rating and set a $151.00 price target on shares of PNC Financial Services Group in a research note on Monday, December 4th. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research report on Tuesday, October 31st. Goldman Sachs Group lowered shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, Argus upped their target price on shares of PNC Financial Services Group to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Eighteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $145.98.

In other PNC Financial Services Group news, insider E William Parsley III sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total value of $3,467,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael J. Hannon sold 8,011 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the completion of the sale, the insider now directly owns 58,820 shares in the company, valued at approximately $9,070,044. The disclosure for this sale can be found here. Insiders sold 103,894 shares of company stock worth $14,897,513 in the last ninety days. Insiders own 0.43% of the company’s stock.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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