Integrated Advisors Network LLC Sells 3,887 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Integrated Advisors Network LLC trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,846 shares of the financial services provider's stock after selling 3,887 shares during the quarter. Integrated Advisors Network LLC's holdings in The PNC Financial Services Group were worth $2,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $1,352,151,000. Leigh Baldwin & CO. LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $299,864,000. GAMMA Investing LLC increased its position in shares of The PNC Financial Services Group by 19,279.5% in the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after buying an additional 1,143,079 shares in the last quarter. Schroder Investment Management Group increased its position in shares of The PNC Financial Services Group by 166.1% in the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after buying an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of The PNC Financial Services Group by 10.7% in the 4th 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 buying an additional 726,115 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 601 shares of the firm'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 transaction of $96,160.00. Following the transaction, the chief executive officer now directly owns 563,573 shares of the company's stock, valued at approximately $90,171,680. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired 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 now directly owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders sold 13,912 shares of company stock worth $2,313,022 over the last three months. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PNC. The Goldman Sachs Group lowered their target price 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. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 target price for the company. Keefe, Bruyette & Woods lowered their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Finally, 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. Two 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $202.67.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $4.56 during mid-day trading on Friday, hitting $173.18. The stock had a trading volume of 1,727,076 shares, compared to its average volume of 2,058,800. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The stock 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 company's 50 day simple moving average is $167.04 and its 200 day simple moving average is $182.46. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.70%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

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.