Barclays PLC Sells 399,426 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Barclays PLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,266,335 shares of the financial services provider’s stock after selling 399,426 shares during the quarter. Barclays PLC owned about 0.32% of The PNC Financial Services Group worth $244,212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its holdings 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 acquiring an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Wells Fargo & Company decreased 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 note on Friday, March 28th. The Goldman Sachs Group dropped their price objective 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, Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an “underweight” rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $203.47.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $196.17, for a total transaction of $243,643.14. Following the completion of the transaction, the chief executive officer now directly owns 523,829 shares in the company, valued at $102,759,534.93. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 13,061 shares of company stock worth $2,373,424. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $154.91 on Tuesday. The business has a fifty day simple moving average of $177.42 and a two-hundred day simple moving average of $190.02. The firm has a market capitalization of $61.31 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

The PNC Financial Services Group Company 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.