Clearbridge Investments LLC Sells 36,308 Shares of The PNC Financial Services Group, Inc $PNC

Clearbridge Investments LLC decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,062,804 shares of the financial services provider’s stock after selling 36,308 shares during the quarter. Clearbridge Investments LLC’s holdings in The PNC Financial Services Group were worth $430,569,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PNC. Quarry LP bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Modus Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $29,000. Beacon Financial Strategies CORP bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $35,000. JPL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $37,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $39,000. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNC. Barclays boosted their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Bank of America upped their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. JPMorgan Chase & Co. upped their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Stock Up 0.7%

Shares of The PNC Financial Services Group stock opened at $228.76 on Friday. The PNC Financial Services Group, Inc has a 12-month low of $172.73 and a 12-month high of $243.94. The stock has a market capitalization of $91.86 billion, a P/E ratio of 13.29, a PEG ratio of 0.95 and a beta of 0.92. The stock has a 50 day moving average price of $218.12 and a two-hundred day moving average price of $214.36. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company earned $3.51 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The PNC Financial Services Group’s payout ratio is 39.51%.

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.