Strategic Blueprint LLC Sells 4,694 Shares of The PNC Financial Services Group, Inc $PNC

Strategic Blueprint LLC trimmed its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 76.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,460 shares of the financial services provider’s stock after selling 4,694 shares during the quarter. Strategic Blueprint LLC’s holdings in The PNC Financial Services Group were worth $305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in The PNC Financial Services Group by 12.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after acquiring an additional 6,572 shares during the last quarter. US Bancorp DE increased its stake in The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after acquiring an additional 34,009 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in The PNC Financial Services Group by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock worth $369,169,000 after acquiring an additional 22,325 shares during the last quarter. National Pension Service increased its stake in The PNC Financial Services Group by 2.5% in the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock worth $215,113,000 after acquiring an additional 26,305 shares during the last quarter. Finally, Savant Capital LLC increased its stake in The PNC Financial Services Group by 8.7% in the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after acquiring an additional 7,064 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

PNC opened at $220.92 on Friday. The business has a fifty day moving average of $213.91 and a 200 day moving average of $208.29. The PNC Financial Services Group, Inc has a 52-week low of $163.11 and a 52-week high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.00. The stock has a market cap of $89.11 billion, a P/E ratio of 12.84, a PEG ratio of 0.92 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the business earned $3.51 EPS. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Finally, Oppenheimer lifted their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. One 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.72.

Insiders Place Their Bets

In related news, EVP Louis Robert Cestello sold 4,279 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares in the company, valued at $4,415,066.67. The trade was a 18.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the transaction, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock worth $14,840,973 in the last 90 days. 0.38% of the stock is owned by insiders.

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.