Sherbrooke Park Advisers LLC Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sherbrooke Park Advisers LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,762 shares of the financial services provider's stock after selling 1,427 shares during the period. Sherbrooke Park Advisers LLC's holdings in The PNC Financial Services Group were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Norges Bank bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $299,864,000. Schroder Investment Management Group grew its stake in shares of The PNC Financial Services Group by 166.1% in the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after buying an additional 860,554 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of The PNC Financial Services Group by 10.7% in the fourth 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 buying an additional 726,115 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake 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 valued at $746,435,000 after buying an additional 710,311 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the subject of several analyst reports. Royal Bank of Canada decreased their target price on shares of 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. Barclays decreased their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. 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. TD Cowen started coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target on the stock. Finally, The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $1.28 during trading on Tuesday, reaching $177.36. The company's stock had a trading volume of 1,084,314 shares, compared to its average volume of 2,047,510. The firm has a market cap of $70.16 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The firm has a 50 day moving average of $165.01 and a 200-day moving average of $186.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.61%. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following 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 SEC, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,638 shares of company stock valued at $3,012,095 in the last 90 days. Insiders own 0.41% of the company's stock.

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.