Commonwealth Equity Services LLC Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Commonwealth Equity Services LLC lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,681 shares of the financial services provider's stock after purchasing an additional 4,971 shares during the period. Commonwealth Equity Services LLC's holdings in The PNC Financial Services Group were worth $29,217,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake 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. Invesco Ltd. lifted its holdings in The PNC Financial Services Group by 10.4% during the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider's stock worth $634,024,000 after buying an additional 484,475 shares during the period. Northern Trust Corp boosted its position in The PNC Financial Services Group by 2.0% during the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider's stock valued at $577,267,000 after acquiring an additional 93,636 shares in the last quarter. Morgan Stanley increased its holdings in shares of The PNC Financial Services Group by 1.0% in the 3rd quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider's stock valued at $473,767,000 after acquiring an additional 36,362 shares during the period. Finally, Royal Bank of Canada raised its position in shares of The PNC Financial Services Group by 2.5% in the 3rd quarter. Royal Bank of Canada now owns 3,327,229 shares of the financial services provider's stock worth $408,485,000 after acquiring an additional 82,406 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. UBS Group lifted their target price on 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. Evercore ISI reduced their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, April 17th. Jefferies Financial Group cut their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating on the stock in a report on Wednesday, April 17th. HSBC upgraded The PNC Financial Services Group from a "reduce" rating to a "hold" rating and increased their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, StockNews.com lowered The PNC Financial Services Group from a "hold" rating to a "sell" rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $157.02.

Insiders Place Their Bets

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm'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 sale, the executive vice president now 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 can be accessed through this link. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $0.21 on Monday, reaching $156.43. 1,188,643 shares of the stock were exchanged, compared to its average volume of 2,058,579. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The firm has a market capitalization of $62.23 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.77 and a beta of 1.16. The business has a 50 day moving average price of $153.58 and a two-hundred day moving average price of $144.79.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released 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 firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate 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 company's revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.98 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group's payout ratio is presently 52.06%.

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.