Capitolis Liquid Global Markets LLC Reduces Stock Holdings in The PNC Financial Services Group, Inc $PNC

Capitolis Liquid Global Markets LLC reduced its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 32.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,940 shares of the financial services provider’s stock after selling 42,000 shares during the period. Capitolis Liquid Global Markets LLC’s holdings in The PNC Financial Services Group were worth $18,356,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PNC. Quarry LP purchased a new position in shares of The PNC Financial Services Group during the third quarter worth approximately $25,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. EFG International AG purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $33,000. Finally, Beacon Financial Strategies CORP purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $35,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $232.99 on Thursday. The PNC Financial Services Group, Inc has a one year low of $172.89 and a one year high of $243.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The business has a fifty day moving average of $222.07 and a two-hundred day moving average of $217.15. The company has a market cap of $93.56 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last released 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 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 the consensus estimate of $6.21 billion. During the same quarter last year, the company earned $3.51 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, analysts predict that The PNC Financial Services Group, Inc will post 18.79 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research reports. Barclays raised 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 report on Thursday, April 16th. Citigroup raised their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Jefferies Financial Group started coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price target for the company. Finally, Bank of America increased their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.72.

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.