Intech Investment Management LLC Decreases Holdings in The PNC Financial Services Group, Inc $PNC

Intech Investment Management LLC trimmed its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 41.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,884 shares of the financial services provider’s stock after selling 16,919 shares during the period. Intech Investment Management LLC’s holdings in The PNC Financial Services Group were worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PNC. Quarry LP purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $25,000. Beacon Financial Strategies CORP purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $35,000. JPL Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $37,000. Financial Life Planners purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $39,000. Finally, Cornerstone Planning Group LLC lifted its holdings in The PNC Financial Services Group by 2,100.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after buying an additional 168 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.1%

The PNC Financial Services Group stock opened at $221.36 on Monday. The PNC Financial Services Group, Inc has a fifty-two week low of $170.49 and a fifty-two week high of $243.94. 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 company has a market capitalization of $88.89 billion, a P/E ratio of 12.86, a PEG ratio of 0.92 and a beta of 0.92. The stock has a 50-day simple moving average of $216.27 and a 200-day simple moving average of $213.24.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share 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 business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the business earned $3.51 EPS. The business’s quarterly revenue 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 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed 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 yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PNC. Citigroup boosted their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Keefe, Bruyette & Woods boosted their target price 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. Oppenheimer boosted their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Finally, Bank of America boosted their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $243.11.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the company’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 transaction of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

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.