Public Employees Retirement Association of Colorado Trims Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Public Employees Retirement Association of Colorado cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,250 shares of the financial services provider's stock after selling 2,346 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in The PNC Financial Services Group were worth $10,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $1,352,151,000. Schroder Investment Management Group boosted its position in shares of The PNC Financial Services Group by 166.1% during the fourth 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 during 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 valued at $1,453,763,000 after acquiring an additional 726,115 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of The PNC Financial Services Group by 22.5% in the fourth 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 purchasing an additional 710,311 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after buying an additional 549,278 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 641 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the transaction, the chief executive officer now directly owns 562,291 shares in the company, valued at $84,624,795.50. This represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Pfinsgraff bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now directly owns 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 12,420 shares of company stock valued at $2,119,361. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE PNC traded up $4.55 during trading hours on Friday, hitting $165.54. The company had a trading volume of 1,764,781 shares, compared to its average volume of 2,006,410. The business has a fifty day simple moving average of $167.37 and a 200-day simple moving average of $187.55. The firm has a market cap of $65.51 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. 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 PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

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

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.87%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a report on Wednesday, April 16th. Stephens reaffirmed an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Royal Bank of Canada cut their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company lowered their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.