The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 640,210 shares of the financial services provider's stock after acquiring an additional 15,142 shares during the period. First Trust Advisors LP owned 0.16% of The PNC Financial Services Group worth $123,465,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock valued at $7,273,794,000 after purchasing an additional 268,827 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after acquiring an additional 549,278 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of The PNC Financial Services Group by 10.7% during 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. Norges Bank purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $1,352,151,000. Finally, Bank of New York Mellon Corp increased its position in The PNC Financial Services Group by 22.5% during 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. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $1.26 during midday trading on Friday, reaching $158.49. The stock had a trading volume of 1,125,112 shares, compared to its average volume of 1,995,158. 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 stock has a market cap of $62.72 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.55 and a beta of 1.04. The firm has a fifty day simple moving average of $169.74 and a two-hundred day simple moving average of $188.25. 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 quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.04%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on 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 in the company, valued at $109,893,761.25. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 12,420 shares of company stock worth $2,172,655. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PNC has been the topic of several recent analyst reports. Barclays decreased their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Stephens reaffirmed an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Royal Bank of Canada cut their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $200.88.

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.