Price T Rowe Associates Inc. MD Sells 345,358 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Price T Rowe Associates Inc. MD lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 588,427 shares of the financial services provider's stock after selling 345,358 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.15% of The PNC Financial Services Group worth $113,479,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. grew its stake in The PNC Financial Services Group by 3.1% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock worth $434,000 after acquiring an additional 53 shares during the period. Transcend Capital Advisors LLC lifted its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after acquiring an additional 55 shares in the last quarter. Valmark Advisers Inc. lifted its position in The PNC Financial Services Group by 1.4% in the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock valued at $773,000 after acquiring an additional 56 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its stake in The PNC Financial Services Group by 2.1% in the 4th quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider's stock worth $537,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 601 shares of the stock in a transaction that occurred on Monday, April 28th. 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 559,847 shares of the company's stock, valued at $89,575,520. This represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 13,662 shares of company stock valued at $2,370,382 over the last quarter. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded up $0.26 during midday trading on Thursday, hitting $160.95. 1,996,655 shares of the company were exchanged, compared to its average volume of 2,001,781. The firm has a market capitalization of $63.70 billion, a P/E ratio of 11.71, a PEG ratio of 1.55 and a beta of 1.04. 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 52 week low of $145.12 and a 52 week high of $216.26. The firm's 50 day moving average price is $167.89 and its two-hundred day moving average price is $187.74.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.98%. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Stephens reiterated an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Royal Bank of Canada reduced 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 report on Wednesday, April 16th. Finally, The Goldman Sachs Group lowered their price target 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 note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $200.88.

About The PNC Financial Services Group

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.