Nuveen Asset Management LLC Sells 60,730 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Nuveen Asset Management LLC trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,745,382 shares of the financial services provider's stock after selling 60,730 shares during the quarter. Nuveen Asset Management LLC owned 0.44% of The PNC Financial Services Group worth $336,597,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of The PNC Financial Services Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after acquiring an additional 268,827 shares in the last quarter. Franklin Resources Inc. boosted its stake 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 purchasing an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after purchasing an additional 726,115 shares in the last quarter. Norges Bank bought a new position in The PNC Financial Services Group during the 4th quarter worth about $1,352,151,000. Finally, Northern Trust Corp raised its stake in shares of The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after purchasing an additional 608,375 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PNC shares. Citigroup reduced their target price 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. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Truist Financial lowered their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday. They set a "buy" rating and a $233.00 target price on the stock. Finally, HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $202.67.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the 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 transaction, the executive vice president now owns 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $190.18, for a total transaction of $236,203.56. Following the transaction, the chief executive officer now directly owns 569,783 shares in the company, valued at $108,361,330.94. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,638 shares of company stock valued at $3,012,095 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded down $0.85 during mid-day trading on Monday, reaching $178.57. 1,433,410 shares of the company were exchanged, compared to its average volume of 2,048,628. The stock has a market capitalization of $70.64 billion, a P/E ratio of 12.99, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company's 50-day simple moving average is $164.86 and its 200-day simple moving average is $186.19. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26.

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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. As a group, research analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is 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.