Anderson Hoagland & Co Decreased Stake in Pnc Financial Services Group (NYSE:PNC) by $3.55 Million as Shares Declined


Anderson Hoagland & Co decreased its stake in Pnc Financial Services Group (NYSE:PNC) by 72.95% based on its latest 2016Q2 regulatory filing with the SEC. Anderson Hoagland & Co sold 42,282 shares as the company’s stock declined 9.22% while stock markets rallied. The institutional investor held 15,680 shares of the finance company at the end of 2016Q2, valued at $1.33M, down from 57,962 at the end of the previous reported quarter. Anderson Hoagland & Co who had been investing in Pnc Financial Services Group for a number of months, seems to be less bullish one the $44.71 billion market cap company. The stock is down 0.98% or $0.89 after the negative news, hitting $90.01 per share. About 2.10M shares traded hands. PNC Financial Services Group Inc (NYSE:PNC) has risen 11.17% since February 8, 2016 and is uptrending. It has underperformed by 5.32% the S&P500.

Anderson Hoagland & Co is a Missouri-based institutional investor with more than $378.72 million AUM in January, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Anderson Hoagland & latest Adv, the fund reported to have 6 full and part-time employees. Among which 5 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

The institutional sentiment increased to 0.89 in 2016 Q2. Its up 0.04, from 0.85 in 2016Q1. The ratio increased, as 59 funds sold all PNC shares owned while 337 reduced positions. 52 funds bought stakes while 299 increased positions. They now own 388.74 million shares or 0.81% less from 391.90 million shares in 2016Q1.

Atwood & Palmer Inc holds 2.79% of its portfolio in PNC for 189,509 shares. Crossvault Capital Management Llc owns 48,437 shares or 2.79% of their US portfolio. Moreover, Reliant Investment Management Llc has 2.76% invested in the company for 37,265 shares. The Alabama-based 10 has invested 2.69% in the stock. Salzhauer Michael, a New York-based fund reported 40,526 shares.

Out of 12 analysts covering PNC Financial Services (NYSE:PNC), 3 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 25% are positive. PNC Financial Services has been the topic of 23 analyst reports since October 2, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods initiated the stock on August 31 with “Outperform” rating.

The PNC Financial Services Group, Inc. is a diversified financial services firm in the United States. The company has a market cap of $44.71 billion. The Firm operates through six divisions: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio. It has a 12.31 P/E ratio. Retail Banking provides deposit, lending, brokerage, investment management and cash management services.

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