New York Life Investment Management LLC Sells 18,250 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

New York Life Investment Management LLC reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 22.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 62,211 shares of the financial services provider's stock after selling 18,250 shares during the quarter. New York Life Investment Management LLC's holdings in The PNC Financial Services Group were worth $9,633,000 at the end of the most recent reporting period.

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

The PNC Financial Services Group Stock Up 0.3 %

Shares of NYSE:PNC traded up $0.54 on Friday, reaching $156.22. The company had a trading volume of 1,020,923 shares, compared to its average volume of 2,068,687. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $62.15 billion, a PE ratio of 13.12, a PEG ratio of 1.74 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The firm's 50 day simple moving average is $153.38 and its 200-day simple moving average is $144.15.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results 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 PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the company posted $3.98 earnings per share. The firm's revenue was down 8.2% on a year-over-year basis. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.97%. The PNC Financial Services Group's dividend payout ratio (DPR) is 52.06%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value 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 $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PNC. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an "overweight" rating for the company in a research note on Wednesday. Bank of America boosted their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, April 17th. Evercore ISI decreased their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating for the company in a research report on Wednesday, April 17th. UBS Group boosted their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a "neutral" rating in a research note on Thursday, January 18th. Finally, StockNews.com downgraded shares of The PNC Financial Services Group from a "hold" rating to a "sell" rating in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $157.02.

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.