Trillium Asset Management LLC Cuts Position in The PNC Financial Services Group, Inc $PNC

Trillium Asset Management LLC cut its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 18.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 207,227 shares of the financial services provider’s stock after selling 45,966 shares during the period. The PNC Financial Services Group comprises approximately 1.3% of Trillium Asset Management LLC’s portfolio, making the stock its 14th largest position. Trillium Asset Management LLC owned about 0.05% of The PNC Financial Services Group worth $43,811,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC grew its position in The PNC Financial Services Group by 113.0% in the fourth quarter. Wealthspire Advisors LLC now owns 12,373 shares of the financial services provider’s stock worth $2,583,000 after acquiring an additional 6,565 shares in the last quarter. Summit Financial LLC lifted its stake in The PNC Financial Services Group by 6.9% in the fourth quarter. Summit Financial LLC now owns 6,377 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 413 shares during the last quarter. Circle Wealth Management LLC lifted its stake in The PNC Financial Services Group by 4.3% in the fourth quarter. Circle Wealth Management LLC now owns 1,877 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 77 shares during the last quarter. Laurel Oak Wealth Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $533,000. Finally, Rossby Financial LCC lifted its stake in The PNC Financial Services Group by 146.4% in the fourth quarter. Rossby Financial LCC now owns 611 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 363 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several recent research reports. Morgan Stanley boosted their price target 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. Keefe, Bruyette & Woods boosted their price target 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 note on Thursday, April 16th. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target for the company. Oppenheimer boosted their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $237.51 on Friday. The company has a market cap of $95.38 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. The company has a 50-day moving average price of $220.85 and a 200-day moving average price of $216.10. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12 month low of $172.73 and a 12 month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.51 earnings per share. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

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.