Court Place Advisors LLC Sells 698 Shares of PNC Financial Services Group Inc (PNC)

Court Place Advisors LLC lowered its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,739 shares of the financial services provider’s stock after selling 698 shares during the quarter. PNC Financial Services Group makes up about 1.0% of Court Place Advisors LLC’s investment portfolio, making the stock its 25th largest position. Court Place Advisors LLC’s holdings in PNC Financial Services Group were worth $2,544,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky increased its holdings in PNC Financial Services Group by 3.7% in the first quarter. Independence Bank of Kentucky now owns 2,365 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 85 shares during the last quarter. Oakworth Capital Inc. increased its holdings in PNC Financial Services Group by 15.5% in the fourth quarter. Oakworth Capital Inc. now owns 640 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 86 shares during the last quarter. Adviser Investments LLC increased its holdings in PNC Financial Services Group by 2.7% in the fourth quarter. Adviser Investments LLC now owns 3,509 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 91 shares during the last quarter. Regentatlantic Capital LLC increased its holdings in PNC Financial Services Group by 0.3% in the first quarter. Regentatlantic Capital LLC now owns 26,727 shares of the financial services provider’s stock valued at $3,278,000 after purchasing an additional 93 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in PNC Financial Services Group by 31.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 409 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 82.20% of the company’s stock.

In other PNC Financial Services Group news, insider Joseph E. Rockey sold 6,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the transaction, the insider now directly owns 24,747 shares of the company’s stock, valued at $3,340,845. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff bought 500 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was acquired at an average cost of $125.69 per share, with a total value of $62,845.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by insiders.

NYSE:PNC opened at $131.94 on Friday. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $152.29. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $62.19 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.61. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm earned $2.43 earnings per share. As a group, equities research analysts anticipate that PNC Financial Services Group Inc will post 11.35 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th were paid a $0.95 dividend. The ex-dividend date was Monday, April 15th. This represents a $3.80 dividend on an annualized basis and a yield of 2.88%. PNC Financial Services Group’s payout ratio is 35.48%.

A number of equities research analysts recently commented on PNC shares. Royal Bank of Canada dropped their price objective on PNC Financial Services Group to $150.00 and set an “average” rating for the company in a report on Thursday, January 17th. Morgan Stanley upped their price objective on PNC Financial Services Group from $138.00 to $142.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Barclays upped their price objective on PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Finally, UBS Group set a $133.00 price objective on PNC Financial Services Group and gave the company a “hold” rating in a report on Tuesday, April 2nd. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $143.63.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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