MML Investors Services LLC Has $20.95 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

MML Investors Services LLC cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 108,636 shares of the financial services provider’s stock after selling 1,050 shares during the quarter. MML Investors Services LLC’s holdings in The PNC Financial Services Group were worth $20,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. boosted 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 buying an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $30,000. Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays cut their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a report on Wednesday, April 16th. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Finally, Citigroup decreased their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $200.88.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $150.19 on Tuesday. 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 $59.44 billion, a P/E ratio of 10.92, a P/E/G 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 business has a fifty day simple moving average of $172.72 and a two-hundred day simple moving average of $189.01.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 601 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total value of $96,160.00. Following the completion of the transaction, the chief executive officer now directly owns 563,573 shares in the company, valued at approximately $90,171,680. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 11,819 shares of company stock valued at $2,127,508. Corporate insiders own 0.41% of the company’s stock.

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.