24,039 Shares in The PNC Financial Services Group, Inc $PNC Purchased by Advisortrust Partners LLC

Advisortrust Partners LLC purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 24,039 shares of the financial services provider’s stock, valued at approximately $5,018,000. The PNC Financial Services Group accounts for approximately 2.2% of Advisortrust Partners LLC’s portfolio, making the stock its 12th largest position.

Several other hedge funds have also bought and sold shares of PNC. Norges Bank purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $1,967,080,000. Viking Global Investors LP increased its holdings in shares of The PNC Financial Services Group by 234.9% during the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after acquiring an additional 5,581,102 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of The PNC Financial Services Group by 961.7% in the 4th quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider’s stock worth $549,023,000 after purchasing an additional 2,382,552 shares during the last quarter. Deutsche Bank AG raised its position in shares of The PNC Financial Services Group by 108.2% in the 4th quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock worth $800,884,000 after purchasing an additional 1,994,431 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in The PNC Financial Services Group by 50.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after purchasing an additional 1,162,964 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,300 shares of company stock worth $10,694,574. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $232.39 on Friday. The stock has a 50-day moving average price of $222.68 and a 200 day moving average price of $217.55. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12-month low of $176.16 and a 12-month high of $243.94. The stock has a market capitalization of $93.32 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the company posted $3.51 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given 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 2.9%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PNC. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. JPMorgan Chase & Co. upped their price objective on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective on the stock. Citigroup lifted their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Bank of America lifted their price objective 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 investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $246.72.

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.