Capital Research Global Investors Lowers Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital Research Global Investors trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 16.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,375,249 shares of the financial services provider's stock after selling 2,033,971 shares during the period. Capital Research Global Investors owned 2.61% of The PNC Financial Services Group worth $2,000,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $1,352,151,000. Schroder Investment Management Group raised its stake in The PNC Financial Services Group by 166.1% during the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 acquiring an additional 726,115 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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 acquiring an additional 710,311 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of The PNC Financial Services Group by 5.3% during 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 purchasing an additional 549,278 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm'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 sale, the chief executive officer now owns 522,587 shares in the company, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 12,460 shares of company stock valued at $2,223,979 over the last quarter. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $2.37 on Thursday, hitting $159.78. The company's stock had a trading volume of 632,379 shares, compared to its average volume of 1,990,023. The company has a market capitalization of $63.23 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The firm has a fifty day moving average price of $171.18 and a 200-day moving average price of $188.56. 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 (NYSE:PNC - Get Free Report) last announced 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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 of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.01%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Stephens reiterated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Wells Fargo & Company lowered their price objective 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. Finally, Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus 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.