The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 81.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 367,441 shares of the financial services provider's stock after selling 1,647,241 shares during the quarter. Wellington Management Group LLP owned approximately 0.09% of The PNC Financial Services Group worth $70,861,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Richardson Financial Services Inc. grew its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the period. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $37,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on PNC. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Barclays decreased their price target on shares of 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. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price target on the stock. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Royal Bank of Canada decreased 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $202.67.

Insider Buying and Selling

In related news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the transaction, the chief executive officer now owns 554,879 shares of the company's stock, valued at $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,396 shares of company stock worth $2,747,698. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Down 0.7%

The PNC Financial Services Group stock traded down $1.24 during midday trading on Friday, hitting $173.86. 4,161,391 shares of the stock were exchanged, compared to its average volume of 2,058,638. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a market cap of $68.77 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day moving average price of $165.07 and a two-hundred day moving average price of $184.65.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.68%. 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.