The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 31.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,622 shares of the financial services provider's stock after selling 5,253 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in The PNC Financial Services Group were worth $1,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. FMR LLC raised its holdings in The PNC Financial Services Group by 6.7% in the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider's stock worth $1,758,880,000 after purchasing an additional 893,808 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of The PNC Financial Services Group by 15,539.2% during the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider's stock worth $99,727,000 after acquiring an additional 639,903 shares during the period. Invesco Ltd. raised its position in shares of The PNC Financial Services Group by 10.4% in the 3rd 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 in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of The PNC Financial Services Group by 44.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider's stock valued at $189,297,000 after purchasing an additional 477,367 shares in the last quarter. Finally, Anchor Capital Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 601.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider's stock valued at $60,885,000 after buying an additional 337,105 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PNC shares. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. StockNews.com downgraded The PNC Financial Services Group from a "hold" rating to a "sell" rating in a report on Friday, April 26th. 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. Evercore ISI dropped their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 17th. Finally, UBS Group increased their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a "neutral" rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $157.02.

The PNC Financial Services Group Trading Up 0.3 %

NYSE PNC traded up $0.47 during trading on Friday, hitting $157.59. The stock had a trading volume of 984,953 shares, compared to its average volume of 2,021,831. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $62.69 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.77 and a beta of 1.16. The stock has a 50 day simple moving average of $154.45 and a 200 day simple moving average of $145.56.

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 earnings per share for the quarter, topping analysts' consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates 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 business's revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group's dividend payout ratio (DPR) is 52.06%.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 850 shares of the business's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares of the company's stock, valued at approximately $545,856.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business's stock in a transaction dated Monday, February 12th. The stock was 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 approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company's stock, valued at approximately $545,856.74. The disclosure for this sale can be found here. Company insiders own 0.42% of the company's stock.

The PNC Financial Services Group Company 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.