The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 934,440 shares of the financial services provider's stock after selling 99,221 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.23% of The PNC Financial Services Group worth $144,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. FMR LLC raised its position in The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider's stock worth $1,758,880,000 after acquiring an additional 893,808 shares during the period. T. Rowe Price Investment Management Inc. raised its position in The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider's stock worth $2,064,357,000 after acquiring an additional 860,489 shares during the period. Geode Capital Management LLC raised its position in The PNC Financial Services Group by 2.4% in the first quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider's stock worth $915,146,000 after acquiring an additional 171,876 shares during the period. Invesco Ltd. raised its position in The PNC Financial Services Group by 10.4% in the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider's stock worth $634,024,000 after acquiring an additional 484,475 shares during the period. Finally, Northern Trust Corp raised its position in The PNC Financial Services Group by 2.0% in the third quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider's stock worth $577,267,000 after acquiring an additional 93,636 shares during the period. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 2.0 %

NYSE PNC traded down $2.97 during trading on Tuesday, reaching $146.59. 3,350,288 shares of the company's stock traded hands, compared to its average volume of 2,159,355. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $58.31 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company's 50 day simple moving average is $151.88 and its two-hundred day simple moving average is $141.47. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.05 by $0.05. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm earned $3.98 EPS. The company's quarterly revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group's payout ratio is 48.48%.

Wall Street Analyst Weigh In

PNC has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 30th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an "outperform" rating in a research note on Thursday, March 28th. HSBC raised shares of The PNC Financial Services Group from a "reduce" rating to a "hold" rating and increased their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, UBS Group increased their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a "neutral" rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Hold" and a consensus target price of $157.10.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company's stock.

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.