Natixis Advisors LLC Decreases Stake in The PNC Financial Services Group, Inc $PNC

Natixis Advisors LLC reduced its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 15.2% during the third quarter, HoldingsChannel reports. The fund owned 240,830 shares of the financial services provider’s stock after selling 43,236 shares during the quarter. Natixis Advisors LLC’s holdings in The PNC Financial Services Group were worth $48,390,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Westfuller Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the third quarter worth about $34,000. Bayforest Capital Ltd lifted its stake in shares of The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after buying an additional 147 shares in the last quarter. Corundum Trust Company INC purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $49,000. Country Trust Bank boosted its holdings in The PNC Financial Services Group by 38.9% in the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock worth $49,000 after buying an additional 68 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $50,000. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the sale, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. This trade represents a 79.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Louis Robert Cestello sold 4,279 shares of The PNC Financial Services Group stock in a transaction dated 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 sale, the executive vice president owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock valued at $14,840,973 over the last 90 days. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PNC shares. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a report on Tuesday, January 20th. TD Cowen raised their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Finally, Wells Fargo & Company raised their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $234.44.

The PNC Financial Services Group Stock Down 0.4%

Shares of NYSE:PNC opened at $205.25 on Tuesday. The firm has a fifty day moving average price of $222.03 and a two-hundred day moving average price of $205.26. The company has a market cap of $82.79 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.86 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the prior year, the firm posted $3.77 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts anticipate 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 firm also recently announced 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 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

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.