KBC Group NV Sells 1,845 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

KBC Group NV reduced its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 269,743 shares of the financial services provider's stock after selling 1,845 shares during the period. KBC Group NV owned about 0.07% of The PNC Financial Services Group worth $47,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mechanics Financial Corp purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $541,000. AssuredPartners Investment Advisors LLC bought a new stake in The PNC Financial Services Group in the 4th quarter worth $739,000. Premier Fund Managers Ltd grew its holdings in The PNC Financial Services Group by 38.3% in the 4th 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. PKS Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $357,000. Finally, Kingswood Wealth Advisors LLC raised its stake in shares of The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Cowen assumed coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 target price on the stock. The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Morgan Stanley cut their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced 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 research note on Wednesday, April 16th. Finally, Royal Bank Of Canada decreased their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $202.67.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the transaction, the chief executive officer now owns 554,879 shares in the company, valued at $94,190,710.25. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,428 shares of company stock valued at $1,882,322. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Up 0.2%

NYSE:PNC opened at $185.92 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The firm's 50-day moving average price is $172.14 and its 200-day moving average price is $180.03. The company has a market capitalization of $73.55 billion, a PE ratio of 13.13, a P/E/G ratio of 1.56 and a beta of 1.06. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $261.54.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data 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 PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. On average, equities 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 business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

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.

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