Zevin Asset Management LLC Decreases Holdings in PNC Financial Services Group Inc (PNC)

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Zevin Asset Management LLC reduced its stake in PNC Financial Services Group Inc (NYSE:PNC) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,397 shares of the financial services provider’s stock after selling 5,759 shares during the period. PNC Financial Services Group accounts for approximately 1.5% of Zevin Asset Management LLC’s investment portfolio, making the stock its 23rd biggest position. Zevin Asset Management LLC’s holdings in PNC Financial Services Group were worth $4,138,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Exencial Wealth Advisors LLC lifted its position in PNC Financial Services Group by 2.9% during the third quarter. Exencial Wealth Advisors LLC now owns 29,614 shares of the financial services provider’s stock worth $4,033,000 after purchasing an additional 847 shares during the period. Russell Investments Group Ltd. lifted its position in PNC Financial Services Group by 29.4% during the third quarter. Russell Investments Group Ltd. now owns 420,480 shares of the financial services provider’s stock worth $57,376,000 after purchasing an additional 95,532 shares during the period. Paradigm Asset Management Co. LLC bought a new stake in PNC Financial Services Group during the third quarter worth about $3,772,000. Delta Investment Management LLC bought a new stake in PNC Financial Services Group during the fourth quarter worth about $350,000. Finally, Bristlecone Advisors LLC lifted its position in PNC Financial Services Group by 62.3% during the third quarter. Bristlecone Advisors LLC now owns 12,096 shares of the financial services provider’s stock worth $1,647,000 after purchasing an additional 4,641 shares during the period. Hedge funds and other institutional investors own 80.61% of the company’s stock.

Several brokerages have commented on PNC. ValuEngine downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 11th. Credit Suisse Group reissued a “hold” rating and set a $146.00 target price on shares of PNC Financial Services Group in a research note on Thursday, January 17th. Deutsche Bank downgraded PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $123.89 target price for the company. in a research note on Friday, January 25th. UBS Group set a $137.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a research note on Monday, October 15th. Finally, BMO Capital Markets downgraded PNC Financial Services Group from an “outperform” rating to a “market perform” rating and set a $139.00 target price for the company. in a research note on Monday, November 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $145.45.

Shares of PNC Financial Services Group stock traded down $0.08 on Monday, hitting $121.16. The stock had a trading volume of 359,390 shares, compared to its average volume of 2,468,323. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $163.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $55.94 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.43 and a beta of 1.04.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $2.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.79 by ($0.04). PNC Financial Services Group had a net margin of 26.51% and a return on equity of 11.23%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the company earned $2.29 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that PNC Financial Services Group Inc will post 11.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 5th. Stockholders of record on Thursday, January 17th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Wednesday, January 16th. PNC Financial Services Group’s dividend payout ratio is currently 35.48%.

PNC Financial Services Group announced that its board has authorized a share repurchase plan on Thursday, November 8th that permits the company to buyback $900.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $124.82, for a total transaction of $624,100.00. Following the completion of the sale, the insider now owns 53,239 shares of the company’s stock, valued at approximately $6,645,291.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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