Banco Bilbao Vizcaya Argentaria S.A. Has $7.80 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Banco Bilbao Vizcaya Argentaria S.A. cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,449 shares of the financial services provider's stock after selling 3,711 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in The PNC Financial Services Group were worth $7,800,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PNC. Vanguard Group Inc. lifted its holdings in The PNC Financial Services Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after purchasing an additional 268,827 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of The PNC Financial Services Group by 5.3% during 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 buying an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA grew 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 valued at $1,453,763,000 after buying an additional 726,115 shares during the last quarter. Norges Bank bought a new position in The PNC Financial Services Group in the 4th quarter worth $1,352,151,000. 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 last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff purchased 1,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director now directly owns 2,009 shares of the company's stock, valued at approximately $317,863.98. The trade was a 99.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now owns 522,587 shares of the company's stock, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,662 shares of company stock valued at $2,370,382. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Down 0.9 %

NYSE:PNC traded down $1.51 during trading hours on Wednesday, hitting $159.09. 557,159 shares of the stock were exchanged, compared to its average volume of 1,994,242. The company has a market capitalization of $62.96 billion, a P/E ratio of 11.57, 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 company's 50 day moving average is $168.43 and its two-hundred day moving average is $187.93. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month 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 (EPS) for the quarter, beating the consensus estimate 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%. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.02%. The PNC Financial Services Group's payout ratio is presently 45.20%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped 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 research note on Wednesday, April 16th. Stephens reissued 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. Wells Fargo & Company dropped their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. 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 for the company in a report on Thursday, April 3rd. Finally, Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Two 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently 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.