Miller Investment Management LP Has $2.53 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Miller Investment Management LP lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 40.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,580 shares of the financial services provider’s stock after selling 8,680 shares during the quarter. Miller Investment Management LP’s holdings in The PNC Financial Services Group were worth $2,528,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares in the last quarter. Empowered Funds LLC grew its position in shares of The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 170 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after purchasing an additional 1,449 shares during the period. Sage Mountain Advisors LLC raised its position in shares of The PNC Financial Services Group by 16.8% in the second quarter. Sage Mountain Advisors LLC now owns 2,028 shares of the financial services provider’s stock valued at $378,000 after buying an additional 292 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its position in shares of The PNC Financial Services Group by 2.7% in the second quarter. Leavell Investment Management Inc. now owns 2,741 shares of the financial services provider’s stock valued at $511,000 after buying an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the transaction, the executive vice president directly owned 21,120 shares in the company, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares of the company’s stock, valued at $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,186 shares of company stock valued at $3,296,973 in the last quarter. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $220.45 on Tuesday. The business has a fifty day simple moving average of $221.59 and a 200 day simple moving average of $203.73. The company has a market cap of $86.45 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.97 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.77 earnings per share. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. Morgan Stanley increased their price target on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Oppenheimer increased their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Barclays boosted their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, TD Cowen upped their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

The PNC Financial Services Group Company 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.