The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Capital Research Global Investors

Capital Research Global Investors lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,375,249 shares of the financial services provider’s stock after selling 2,033,971 shares during the quarter. Capital Research Global Investors’ holdings in The PNC Financial Services Group were worth $2,000,866,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth about $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $30,000. Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PNC shares. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research report on Wednesday. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $200.88.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the sale, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 11,819 shares of company stock valued at $2,127,508 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Up 0.3 %

NYSE:PNC opened at $152.05 on Friday. The stock has a fifty day simple moving average of $173.63 and a 200 day simple moving average of $189.09. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $60.17 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.21%. The PNC Financial Services Group’s payout ratio is presently 45.20%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.