Marshall Wace LLP Acquires Shares of 15,270 The PNC Financial Services Group, Inc. (NYSE:PNC)

Marshall Wace LLP bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 15,270 shares of the financial services provider's stock, valued at approximately $2,945,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $1,352,151,000. Schroder Investment Management Group boosted its holdings in 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 worth $265,436,000 after acquiring an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA grew its position in The PNC Financial Services Group by 10.7% in the fourth 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 acquiring an additional 726,115 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after purchasing an additional 710,311 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after buying an additional 549,278 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $192.45, for a total transaction of $239,022.90. Following the sale, the chief executive officer now owns 571,025 shares in the company, valued at $109,893,761.25. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,662 shares of company stock worth $2,370,382. Company insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced 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 research report on Wednesday, April 16th. The Goldman Sachs Group reduced their target price 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. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Citigroup decreased their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Barclays dropped their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $200.88.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $1.26 during trading hours on Thursday, reaching $161.95. 1,102,407 shares of the stock were exchanged, compared to its average volume of 1,998,445. The firm has a market capitalization of $64.09 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.55 and a beta of 1.04. The stock's fifty day simple moving average is $167.89 and its 200 day simple moving average is $187.74. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.95%. The PNC Financial Services Group's payout ratio 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.