Heartland Advisors Inc. Sells 37,569 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Heartland Advisors Inc. lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 39.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,953 shares of the financial services provider's stock after selling 37,569 shares during the quarter. Heartland Advisors Inc.'s holdings in The PNC Financial Services Group were worth $8,819,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PNC. FMR LLC raised its stake in The PNC Financial Services Group by 6.7% during the third 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 during the period. International Assets Investment Management LLC boosted its holdings in The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider's stock valued at $99,727,000 after acquiring an additional 639,903 shares during the last quarter. Invesco Ltd. grew its position 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 valued at $634,024,000 after acquiring an additional 484,475 shares during the period. Envestnet Asset Management Inc. increased its stake in 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 worth $189,297,000 after acquiring an additional 477,367 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 601.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider's stock worth $60,885,000 after purchasing an additional 337,105 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Jefferies Financial Group reduced their target price 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. UBS Group increased their price target 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. Evercore ISI reduced their price objective 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, StockNews.com upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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 firm's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 0.3 %

PNC traded down $0.47 during trading on Friday, hitting $160.42. The company had a trading volume of 1,075,123 shares, compared to its average volume of 1,983,167. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $63.83 billion, a PE ratio of 13.55, a P/E/G ratio of 1.83 and a beta of 1.16. The business has a 50-day moving average of $155.24 and a 200-day moving average of $147.22.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating 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 net margin of 16.05% and a return on equity of 11.64%. The company's revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 EPS. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed 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 3.86%. 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 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.