Massachusetts Financial Services Co. MA Has $1.13 Billion Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Massachusetts Financial Services Co. MA decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,321,471 shares of the financial services provider's stock after selling 8,876 shares during the period. Massachusetts Financial Services Co. MA owned 1.84% of The PNC Financial Services Group worth $1,133,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $26,000. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of The PNC Financial Services Group by 350.0% in 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. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded up $0.51 on Monday, hitting $158.09. The company's stock had a trading volume of 1,359,456 shares, compared to its average volume of 2,014,631. The company has a fifty day moving average price of $154.64 and a 200-day moving average price of $146.38. The firm has a market cap of $62.91 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.78 and a beta of 1.16. 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 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 (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company's quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.98 earnings per share. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.92%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group's dividend payout ratio is 52.06%.

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 value of $132,489.50. Following 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PNC. HSBC raised The PNC Financial Services Group from a "reduce" rating to a "hold" rating and boosted their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. StockNews.com cut The PNC Financial Services Group from a "hold" rating to a "sell" rating in a research report on Friday, April 26th. JPMorgan Chase & Co. reduced 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, May 1st. Morgan Stanley raised 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 research note on Tuesday, January 30th. Finally, Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Three equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $157.02.

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.

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