PNC Financial Services Group Inc (PNC) Stake Lowered by LSV Asset Management

LSV Asset Management trimmed its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,463,611 shares of the financial services provider’s stock after selling 133,700 shares during the period. LSV Asset Management’s holdings in PNC Financial Services Group were worth $302,186,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Holistic Financial Partners grew its holdings in shares of PNC Financial Services Group by 3.9% during the first quarter. Holistic Financial Partners now owns 2,139 shares of the financial services provider’s stock valued at $262,000 after buying an additional 80 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of 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 worth $290,000 after purchasing an additional 85 shares in the last quarter. Oakworth Capital Inc. grew its stake in PNC Financial Services Group by 15.5% during the fourth quarter. Oakworth Capital Inc. now owns 640 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 86 shares in the last quarter. Adviser Investments LLC grew its stake in PNC Financial Services Group by 2.7% during the fourth quarter. Adviser Investments LLC now owns 3,509 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 91 shares in the last quarter. Finally, Regentatlantic Capital LLC grew its stake in PNC Financial Services Group by 0.3% during the first quarter. Regentatlantic Capital LLC now owns 26,727 shares of the financial services provider’s stock valued at $3,278,000 after acquiring an additional 93 shares in the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

In other PNC Financial Services Group news, insider Joseph E. Rockey sold 6,000 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the sale, the insider now directly owns 24,747 shares in the company, valued at approximately $3,340,845. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff acquired 500 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were acquired at an average price 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.

PNC has been the subject of several analyst reports. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. UBS Group set a $133.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a report on Tuesday, April 2nd. Morgan Stanley boosted their price target on shares of 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. Finally, Barclays boosted their price target on shares of 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. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $143.63.

Shares of PNC Financial Services Group stock traded down $0.88 on Friday, reaching $130.22. The stock had a trading volume of 1,351,552 shares, compared to its average volume of 1,477,264. The company has a market cap of $58.79 billion, a P/E ratio of 12.16, a PEG ratio of 1.52 and a beta of 1.09. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $152.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.23.

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

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Monday, April 15th. PNC Financial Services Group’s dividend payout ratio is presently 35.48%.

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PNC Financial Services Group 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.

Further Reading: What are the Different Types of Leveraged Buyouts?

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

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