MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 12,222 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 92.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 931 shares of the financial services provider's stock after selling 12,222 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in The PNC Financial Services Group were worth $164,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group during the first quarter worth $35,000. REAP Financial Group LLC lifted its holdings in The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after acquiring an additional 80 shares during the period. Finally, Hoey Investments Inc. bought a new stake in The PNC Financial Services Group during the fourth quarter worth $39,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $173.18 on Monday. 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, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The firm has a market cap of $68.50 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.55 and a beta of 1.06. The business's fifty day moving average is $167.04 and its 200 day moving average is $182.00.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.70%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff purchased 1,000 shares of the company's stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $179.14, for a total value of $222,491.88. Following the sale, the chief executive officer now directly owns 556,121 shares of the company's stock, valued at approximately $99,623,515.94. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,912 shares of company stock worth $2,313,022 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PNC shares. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the stock from $206.00 to $202.00 in a report on Monday, March 31st. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Barclays dropped their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.

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.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.