The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Decreased by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 33.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,035 shares of the financial services provider’s stock after selling 19,209 shares during the quarter. Cresset Asset Management LLC’s holdings in The PNC Financial Services Group were worth $7,335,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PNC. Vanguard Group Inc. grew its position in The PNC Financial Services Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after purchasing an additional 268,827 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after acquiring an additional 549,278 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the last quarter. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $1,352,151,000. Finally, Northern Trust Corp increased its stake in The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after purchasing an additional 608,375 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.2 %

The PNC Financial Services Group stock opened at $163.87 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The firm has a market capitalization of $64.85 billion, a PE ratio of 11.92, a PEG ratio of 1.55 and a beta of 1.06. The business’s 50-day simple moving average is $165.47 and its 200-day simple moving average is $186.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Equities research 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff bought 1,000 shares of the business’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the transaction, the chief executive officer now owns 562,291 shares in the company, valued at $84,624,795.50. This represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,662 shares of company stock valued at $2,322,006 in the last three months. 0.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company cut 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 research note on Friday, March 28th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Barclays dropped 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 note on Wednesday, April 16th. Finally, Morgan Stanley lowered their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $200.88.

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.