Trillium Asset Management LLC Lowers Stock Holdings in The PNC Financial Services Group, Inc $PNC

Trillium Asset Management LLC cut its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,252 shares of the financial services provider’s stock after selling 13,013 shares during the quarter. The PNC Financial Services Group makes up about 1.3% of Trillium Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Trillium Asset Management LLC’s holdings in The PNC Financial Services Group were worth $48,144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $27,000. Saudi Central Bank bought a new stake in The PNC Financial Services Group in the first quarter worth $27,000. Concord Wealth Partners increased its holdings in shares of The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 65 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $37,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PNC shares. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Raymond James Financial boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. UBS Group upped their price target on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.47.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $182.93 on Wednesday. The stock has a market cap of $72.04 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. The business has a 50-day simple moving average of $195.17 and a 200-day simple moving average of $186.72. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the previous year, the company posted $3.49 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.