PNC Financial Services Group Inc (NYSE:PNC) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 27.2% in the 1st quarter, Holdings Channel reports. The firm owned 167,665 shares of the financial services provider’s stock after selling 62,601 shares during the quarter. Lazard Asset Management LLC’s holdings in PNC Financial Services Group were worth $20,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Princeton Global Asset Management LLC acquired a new position in PNC Financial Services Group during the 4th quarter valued at about $543,000. Executive Wealth Management LLC acquired a new position in PNC Financial Services Group during the 4th quarter valued at about $29,000. Murphy Pohlad Asset Management LLC acquired a new position in PNC Financial Services Group during the 4th quarter valued at about $83,000. Paradigm Financial Partners LLC acquired a new position in PNC Financial Services Group during the 4th quarter valued at about $1,009,000. Finally, Green Square Capital LLC boosted its stake in PNC Financial Services Group by 2.4% during the 4th quarter. Green Square Capital LLC now owns 4,363 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Shares of NYSE PNC opened at $133.73 on Friday. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $147.23. The company has a market capitalization of $60.54 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.56 and a beta of 1.09. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.61. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.24 billion. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. During the same quarter in the previous year, the business earned $2.43 EPS. On average, analysts forecast that PNC Financial Services Group Inc will post 11.33 EPS for the current fiscal year.

A number of research firms have issued reports on PNC. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Morgan Stanley lifted their price target on PNC Financial Services Group from $138.00 to $142.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Barclays boosted their target price on PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Zacks Investment Research downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Macquarie upgraded PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, March 6th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $143.63.

In related news, insider Joseph E. Rockey sold 6,000 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the sale, the insider now owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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