Sumitomo Mitsui DS Asset Management Company Ltd Has $9.95 Million Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,613 shares of the financial services provider's stock after acquiring an additional 3,100 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in The PNC Financial Services Group were worth $9,951,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $35,000. REAP Financial Group LLC lifted its position in shares of 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 purchasing an additional 80 shares in the last quarter. Hoey Investments Inc. purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $39,000. Finally, True Wealth Design LLC boosted its stake in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded up $3.18 during mid-day trading on Wednesday, hitting $195.70. 2,769,057 shares of the company's stock traded hands, compared to its average volume of 2,102,465. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a market cap of $77.41 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.57 and a beta of 1.07. The firm has a 50 day moving average price of $173.63 and a 200 day moving average price of $180.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results 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 net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. On average, equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is currently 45.20%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. TD Cowen began coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Morgan Stanley cut their price target on 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. Keefe, Bruyette & Woods lowered their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $204.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, the director owned 2,009 shares of the company's stock, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president owned 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,428 shares of company stock worth $1,882,322. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group 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.