The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,675,844 shares of the financial services provider’s stock after selling 698,851 shares during the period. Legal & General Group Plc owned about 0.67% of The PNC Financial Services Group worth $516,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Polymer Capital Management US LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $681,000. Cerity Partners LLC raised its stake in The PNC Financial Services Group by 0.9% during the 4th quarter. Cerity Partners LLC now owns 122,449 shares of the financial services provider’s stock worth $23,160,000 after acquiring an additional 1,070 shares in the last quarter. Prospector Partners LLC boosted its stake in The PNC Financial Services Group by 0.3% in the fourth quarter. Prospector Partners LLC now owns 92,045 shares of the financial services provider’s stock valued at $17,751,000 after acquiring an additional 265 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 59 shares during the last quarter. Finally, Ted Buchan & Co lifted its holdings in shares of The PNC Financial Services Group by 2.7% in the 4th quarter. Ted Buchan & Co now owns 7,521 shares of the financial services provider’s stock valued at $1,450,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $198.00, for a total transaction of $245,916.00. Following the transaction, the chief executive officer now directly owns 525,071 shares of the company’s stock, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 12,420 shares of company stock valued at $2,320,739. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $152.47 on Tuesday. The business has a 50 day moving average price of $183.93 and a two-hundred day moving average price of $191.55. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $60.34 billion, a price-to-earnings ratio of 11.09, 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 $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 EPS. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.20%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PNC shares. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price objective for the company from $206.00 to $202.00 in a report on Monday, March 31st. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Finally, Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $203.47.

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.