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

Capital Research Global Investors lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 owned about 2.61% of The PNC Financial Services Group worth $2,000,866,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mechanics Financial Corp purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $541,000. AssuredPartners Investment Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $739,000. Premier Fund Managers Ltd boosted its position in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after acquiring an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after acquiring an additional 8,081 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its holdings in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after acquiring an additional 8,735 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. Barclays lowered their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Keefe, Bruyette & Woods dropped 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 report on Wednesday. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Citigroup cut their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $200.88.

The PNC Financial Services Group Trading Up 0.3 %

NYSE PNC opened at $152.05 on Friday. The stock has a market cap of $60.17 billion, a P/E ratio of 11.06, a PEG ratio of 1.55 and a beta of 1.04. The company’s fifty day simple moving average is $173.63 and its 200-day simple moving average is $189.09. 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 52 week low of $145.12 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share 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 company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Equities 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 Announces Dividend

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

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 11,819 shares of company stock worth $2,127,508. 0.41% of the stock is currently owned by insiders.

About The PNC Financial Services Group

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.