Savant Capital LLC Decreases Holdings in The PNC Financial Services Group, Inc $PNC

Savant Capital LLC trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 86.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,621 shares of the financial services provider’s stock after selling 76,331 shares during the quarter. Savant Capital LLC’s holdings in The PNC Financial Services Group were worth $2,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PNC. Brighton Jones LLC increased its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC increased its stake in shares of The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares during the period. Sivia Capital Partners LLC increased its stake in shares of The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after buying an additional 1,449 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of The PNC Financial Services Group by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after buying an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the second quarter worth $482,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 45,000 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $221.36 on Monday. The PNC Financial Services Group, Inc has a 12 month low of $170.49 and a 12 month high of $243.94. The stock has a market cap of $88.89 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. 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 company’s fifty day moving average price is $216.27 and its 200-day moving average price is $213.24.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the business posted $3.51 EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 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 Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is 39.51%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNC. Barclays lifted their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Oppenheimer lifted their target price 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. Jefferies Financial Group began 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 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Finally, Morgan Stanley lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to 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 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.