HighTower Advisors LLC Sells 4,851 Shares of The PNC Financial Services Group, Inc $PNC

HighTower Advisors LLC cut its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 366,588 shares of the financial services provider’s stock after selling 4,851 shares during the period. HighTower Advisors LLC’s holdings in The PNC Financial Services Group were worth $73,660,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in PNC. Cookson Peirce & Co. Inc. boosted its holdings in shares of The PNC Financial Services Group by 42.8% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 3,856 shares of the financial services provider’s stock valued at $775,000 after buying an additional 1,155 shares during the last quarter. Ameritas Advisory Services LLC raised its position in The PNC Financial Services Group by 24.9% during the third quarter. Ameritas Advisory Services LLC now owns 3,659 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 729 shares in the last quarter. Columbia Bank lifted its stake in The PNC Financial Services Group by 1.8% in the third quarter. Columbia Bank now owns 13,812 shares of the financial services provider’s stock valued at $2,775,000 after acquiring an additional 240 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of The PNC Financial Services Group by 13.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 261,888 shares of the financial services provider’s stock valued at $52,621,000 after acquiring an additional 30,464 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of The PNC Financial Services Group by 0.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,000 shares of the financial services provider’s stock valued at $3,416,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $229.54 on Tuesday. The firm has a market cap of $90.02 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The business’s 50 day moving average is $219.49 and its 200-day moving average is $202.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-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 (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.65. The business 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 firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.77 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PNC shares. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Royal Bank Of Canada upped their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, Barclays lifted their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $234.44.

About The PNC Financial Services Group

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.