Circle Wealth Management LLC Sells 2,971 Shares of PNC Financial Services Group Inc (PNC)

Circle Wealth Management LLC cut its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,534 shares of the financial services provider’s stock after selling 2,971 shares during the quarter. PNC Financial Services Group accounts for approximately 0.9% of Circle Wealth Management LLC’s investment portfolio, making the stock its 17th largest position. Circle Wealth Management LLC’s holdings in PNC Financial Services Group were worth $2,284,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in PNC Financial Services Group by 11,450.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,000,055 shares of the financial services provider’s stock worth $51,000 after buying an additional 5,948,109 shares during the period. Capital International Investors raised its holdings in shares of PNC Financial Services Group by 105.5% in the third quarter. Capital International Investors now owns 2,332,232 shares of the financial services provider’s stock valued at $317,627,000 after acquiring an additional 1,197,093 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of PNC Financial Services Group by 38.0% in the third quarter. Clearbridge Investments LLC now owns 1,915,660 shares of the financial services provider’s stock valued at $260,894,000 after acquiring an additional 527,145 shares in the last quarter. BlackRock Inc. raised its holdings in shares of PNC Financial Services Group by 1.3% in the fourth quarter. BlackRock Inc. now owns 27,642,474 shares of the financial services provider’s stock valued at $3,231,680,000 after acquiring an additional 341,904 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of PNC Financial Services Group by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock valued at $647,356,000 after acquiring an additional 323,714 shares in the last quarter. 81.16% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Robert Q. Reilly sold 12,361 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $122.50, for a total transaction of $1,514,222.50. Following the sale, the executive vice president now owns 118,671 shares in the company, valued at $14,537,197.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Pfinsgraff purchased 500 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were acquired at an average price of $125.69 per share, for a total transaction of $62,845.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by insiders.



A number of equities analysts have commented on the stock. Macquarie downgraded shares of PNC Financial Services Group from an “outperform” rating to a “neutral” rating in a report on Tuesday, November 27th. Credit Suisse Group reduced their target price on shares of PNC Financial Services Group from $150.00 to $146.00 and set a “neutral” rating for the company in a report on Friday, December 7th. ValuEngine downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 11th. Barclays reduced their target price on shares of PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating for the company in a report on Wednesday, January 2nd. Finally, Goldman Sachs Group downgraded shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $154.00 to $144.00 in a report on Monday, January 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $145.45.

Shares of PNC stock opened at $129.48 on Wednesday. PNC Financial Services Group Inc has a fifty-two week low of $108.45 and a fifty-two week high of $160.94. The stock has a market cap of $59.82 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.87.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $2.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.79 by ($0.04). PNC Financial Services Group had a return on equity of 11.23% and a net margin of 26.51%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. PNC Financial Services Group’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that PNC Financial Services Group Inc will post 11.31 EPS for the current year.

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PNC Financial Services Group Company Profile

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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