Sumitomo Mitsui Trust Group Inc. Acquires 82,225 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Sumitomo Mitsui Trust Group Inc. lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961,157 shares of the financial services provider's stock after acquiring an additional 82,225 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of The PNC Financial Services Group worth $168,943,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mechanics Financial Corp bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $541,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $739,000. Premier Fund Managers Ltd grew its stake in shares of 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 in the last quarter. PKS Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $357,000. Finally, Kingswood Wealth Advisors LLC grew its stake in shares of The PNC Financial Services Group by 4.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock worth $493,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PNC shares. Barclays reduced their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Royal Bank Of Canada cut their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their price target on shares of 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. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Citigroup cut their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Moderate Buy" and an average price target of $202.67.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $185.92 on Friday. 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 firm 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 twelve month low of $145.12 and a twelve month high of $216.26. The company has a 50-day moving average price of $172.14 and a two-hundred day moving average price of $180.19.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) 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 17.68% and a return on equity of 10.95%. 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 declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 601 shares of the company'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 transaction, the chief executive officer now directly owns 563,573 shares in the company, valued at approximately $90,171,680. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president now directly owns 20,490 shares in the company, valued at $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 ninety days, insiders have sold 11,428 shares of company stock valued at $1,882,322. 0.41% of the stock is currently owned by corporate insiders.

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.

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