PDT Partners LLC Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

PDT Partners LLC lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,003 shares of the financial services provider's stock after selling 2,103 shares during the quarter. PDT Partners LLC's holdings in The PNC Financial Services Group were worth $4,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $1,352,151,000. Schroder Investment Management Group increased its holdings in The PNC Financial Services Group by 166.1% in the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after acquiring an additional 860,554 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after acquiring an additional 726,115 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after acquiring an additional 710,311 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after acquiring an additional 608,375 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the sale, the chief executive officer now owns 571,025 shares of the company's stock, valued at approximately $109,893,761.25. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 13,061 shares of company stock valued at $2,274,222. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC stock opened at $159.80 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business's fifty day simple moving average is $169.06 and its two-hundred day simple moving average is $188.12. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The firm has a market cap of $63.24 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.01%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Keefe, Bruyette & Woods dropped their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th. Barclays lowered their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Hold" and an average price target of $200.88.

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.

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