25,110 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 25,110 shares of the financial services provider's stock, valued at approximately $4,834,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PNC. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $299,864,000. Schroder Investment Management Group increased its position in shares of 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 valued at $265,436,000 after acquiring an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA raised its stake 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 during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in The PNC Financial Services Group by 22.5% during 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 during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Barclays reduced their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. TD Cowen assumed coverage on The PNC Financial Services Group in a research note on Thursday. They issued a "buy" rating and a $233.00 price objective for the company. Finally, Royal Bank of Canada reduced their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price of $202.67.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff bought 1,000 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director now directly owns 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 601 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total value of $96,160.00. Following the completion of the transaction, the chief executive officer now owns 563,573 shares in the company, valued at approximately $90,171,680. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,638 shares of company stock valued at $3,012,095. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Price Performance

PNC traded down $0.85 during trading on Monday, hitting $178.57. The company's stock had a trading volume of 1,466,067 shares, compared to its average volume of 2,048,884. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The business's fifty day simple moving average is $164.86 and its 200 day simple moving average is $186.19. The firm has a market capitalization of $70.64 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is currently 45.20%.

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.