Kaufman Rossin Wealth LLC Sells 3,609 Shares of The PNC Financial Services Group, Inc $PNC

Kaufman Rossin Wealth LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 72.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,346 shares of the financial services provider’s stock after selling 3,609 shares during the period. Kaufman Rossin Wealth LLC’s holdings in The PNC Financial Services Group were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Monetary Solutions Ltd acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Quarry LP acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth $25,000. Modus Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $29,000. Kemnay Advisory Services Inc. bought a new position in The PNC Financial Services Group during the fourth quarter worth $32,000. Finally, EFG International AG bought a new position in The PNC Financial Services Group during the fourth quarter worth $33,000. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Stephens assumed coverage on shares of The PNC Financial Services Group in a research note on Monday, June 15th. They issued an “overweight” rating and a $265.00 target price for the company. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.72.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred 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 sale, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,300 shares of company stock valued at $10,694,574 over the last quarter. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Up 1.1%

Shares of PNC stock opened at $234.49 on Tuesday. The PNC Financial Services Group, Inc has a one year low of $176.16 and a one year high of $243.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a fifty day moving average price of $222.91 and a 200 day moving average price of $218.02. The stock has a market cap of $94.16 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results 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 PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the firm posted $3.51 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts predict that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid 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 payout ratio is presently 39.51%.

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.