The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Northern Trust Corp

Northern Trust Corp raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,695,514 shares of the financial services provider's stock after buying an additional 608,375 shares during the quarter. Northern Trust Corp owned about 1.18% of The PNC Financial Services Group worth $905,530,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PNC. Beacon Pointe Advisors LLC raised its stake in shares of The PNC Financial Services Group by 2.3% in the fourth quarter. Beacon Pointe Advisors LLC now owns 17,479 shares of the financial services provider's stock worth $3,371,000 after purchasing an additional 398 shares during the last quarter. Betterment LLC acquired a new position in The PNC Financial Services Group in the 4th quarter worth approximately $224,000. Oxford Asset Management LLP purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $632,000. Coldstream Capital Management Inc. lifted its stake in The PNC Financial Services Group by 6.1% during the 4th quarter. Coldstream Capital Management Inc. now owns 8,438 shares of the financial services provider's stock valued at $1,627,000 after acquiring an additional 485 shares during the period. Finally, Capital Analysts LLC boosted its holdings in shares of The PNC Financial Services Group by 10.5% in the 4th quarter. Capital Analysts LLC now owns 1,627 shares of the financial services provider's stock valued at $314,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays cut 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 report on Wednesday, April 16th. Citigroup lowered their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Morgan Stanley cut their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and an average price target of $200.88.

The PNC Financial Services Group Trading Up 2.8 %

NYSE:PNC traded up $4.55 during trading hours on Friday, hitting $165.54. The company had a trading volume of 1,764,781 shares, compared to its average volume of 2,006,410. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a market cap of $65.51 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a 50-day moving average of $167.37 and a 200 day moving average of $187.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released 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 analysts' expectations 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 expect 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 firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff purchased 1,000 shares of the firm's stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 563,573 shares of the company's stock, valued at $90,171,680. The trade was a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,420 shares of company stock valued at $2,119,361. 0.41% of the stock is currently owned by 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.