Groupama Asset Managment Sells 16,254 Shares of The PNC Financial Services Group, Inc $PNC

Groupama Asset Managment cut its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,656 shares of the financial services provider’s stock after selling 16,254 shares during the quarter. Groupama Asset Managment’s holdings in The PNC Financial Services Group were worth $51,693,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PNC. Cvfg LLC raised its position in shares of The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 43 shares in the last quarter. YANKCOM Partnership boosted its position in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 46 shares in the last quarter. Westfuller Advisors LLC boosted its position in shares of The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 46 shares in the last quarter. Atom Investors LP grew its stake in The PNC Financial Services Group by 1.8% during the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 46 shares during the period. Finally, Flavin Financial Services Inc. grew its stake in The PNC Financial Services Group by 0.4% during the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after purchasing an additional 48 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective 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 report on Thursday, April 16th. JPMorgan Chase & Co. lifted their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Stephens assumed coverage on shares of The PNC Financial Services Group in a research report on Monday. They set an “overweight” rating and a $265.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $246.72.

The PNC Financial Services Group Trading Down 0.3%

PNC opened at $232.39 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a fifty-two week low of $176.16 and a fifty-two week high of $243.94. The firm has a market capitalization of $93.32 billion, a PE ratio of 13.50, a P/E/G ratio of 0.97 and a beta of 0.92. The company’s 50-day moving average is $222.45 and its 200 day moving average is $217.44.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly 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 business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.51 EPS. As a group, research analysts predict 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 business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Insider Activity

In related news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on 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 sale, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,300 shares of company stock worth $10,694,574 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

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.