Brandywine Global Investment Management LLC Sells 3,849 Shares of The PNC Financial Services Group, Inc $PNC

Brandywine Global Investment Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 191,289 shares of the financial services provider’s stock after selling 3,849 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in The PNC Financial Services Group were worth $39,928,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PNC. Quarry LP bought a new stake in shares of The PNC Financial Services Group in the third quarter worth about $25,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth $29,000. Beacon Financial Strategies CORP bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $35,000. Cornerstone Planning Group LLC raised its position in shares of The PNC Financial Services Group by 2,100.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock valued at $39,000 after buying an additional 168 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new position in The PNC Financial Services Group in the third quarter worth about $37,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.2%

NYSE PNC opened at $228.76 on Monday. The company’s 50-day simple moving average is $218.12 and its two-hundred day simple moving average is $214.61. The PNC Financial Services Group, Inc has a one year low of $172.73 and a one year high of $243.94. The company has a market capitalization of $91.86 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $3.51 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PNC. Bank of America raised their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Citigroup raised their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. 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 research report on Thursday, April 16th. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $243.11.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.

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.