Sumitomo Mitsui DS Asset Management Company Ltd Has $6.73 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,466 shares of the financial services provider's stock after selling 7,841 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in The PNC Financial Services Group were worth $6,731,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.42% of the company's stock.

The PNC Financial Services Group Price Performance

PNC traded up $3.63 during midday trading on Monday, reaching $155.93. 2,212,300 shares of the company's stock were exchanged, compared to its average volume of 2,148,899. The business's 50-day moving average price is $151.89 and its 200 day moving average price is $142.26. The stock has a market capitalization of $62.03 billion, a PE ratio of 12.90, a P/E/G ratio of 1.72 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analysts' expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm's quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.98 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group's dividend payout ratio is presently 52.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNC. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a "neutral" rating in a report on Monday, April 1st. Jefferies Financial Group lowered their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating on the stock in a research report on Wednesday, April 17th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an "underweight" rating in a report on Tuesday, January 30th. Finally, StockNews.com upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $156.63.

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.