Principal Financial Group Inc. Acquires 99,468 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Principal Financial Group Inc. increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,355,784 shares of the financial services provider's stock after acquiring an additional 99,468 shares during the period. Principal Financial Group Inc. owned approximately 0.59% of The PNC Financial Services Group worth $364,793,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC increased its position in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider's stock worth $28,000 after buying an additional 140 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth $28,000. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price 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, May 1st. Bank of America upped their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a "neutral" rating in a research note 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 stock a "neutral" rating in a research note on Monday, April 1st. StockNews.com cut The PNC Financial Services Group from a "hold" rating to a "sell" rating in a report on Friday, April 26th. Finally, Evercore ISI lowered their price objective 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $157.02.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the business's stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company's stock, valued at $545,856.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael J. Hannon sold 3,000 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Up 0.3 %

Shares of NYSE:PNC traded up $0.46 during trading on Friday, reaching $157.58. 984,955 shares of the stock were exchanged, compared to its average volume of 1,618,365. The firm's 50-day moving average price is $154.64 and its 200 day moving average price is $146.13. The firm has a market cap of $62.70 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.78 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business posted $3.98 EPS. The business's quarterly revenue was down 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 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 3.93%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group's dividend 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.