Aristotle Capital Management LLC Has $855.54 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Aristotle Capital Management LLC lowered its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,111,310 shares of the financial services provider’s stock after selling 195,386 shares during the quarter. The PNC Financial Services Group makes up 1.8% of Aristotle Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Aristotle Capital Management LLC’s holdings in The PNC Financial Services Group were worth $855,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wealth Alliance LLC boosted its stake in shares of The PNC Financial Services Group by 1.8% during the 1st quarter. Wealth Alliance LLC now owns 11,623 shares of the financial services provider’s stock valued at $2,419,000 after buying an additional 210 shares during the period. Compound Planning Inc. lifted its holdings in shares of The PNC Financial Services Group by 9.4% during the 1st quarter. Compound Planning Inc. now owns 7,972 shares of the financial services provider’s stock worth $1,659,000 after acquiring an additional 687 shares during the period. Klingman & Associates LLC raised its stake in The PNC Financial Services Group by 4.9% during the first quarter. Klingman & Associates LLC now owns 1,085 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 51 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in shares of The PNC Financial Services Group by 30.9% during the first quarter. Modern Wealth Management LLC now owns 4,560 shares of the financial services provider’s stock valued at $954,000 after acquiring an additional 1,077 shares during the period. Finally, Keebeck Wealth Management lifted its holdings in The PNC Financial Services Group by 25.6% during the 1st quarter. Keebeck Wealth Management now owns 2,936 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 598 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were 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. This trade represents a 80.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,300 shares of company stock valued at $10,694,574 over the last ninety days. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PNC shares. Citigroup increased their target price on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Robert W. Baird upped their price target on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada upped their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. Finally, Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $265.48.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $250.59 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $256.49. The business’s 50 day moving average price is $236.91 and its two-hundred day moving average price is $224.87. The firm has a market cap of $100.63 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the firm earned $3.85 earnings per share. The PNC Financial Services Group’s revenue was up 21.4% on a year-over-year basis. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.2%. The PNC Financial Services Group’s payout ratio is currently 44.03%.

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.