The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340,464 shares of the financial services provider's stock after selling 56,018 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of The PNC Financial Services Group worth $65,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $1,352,151,000. Schroder Investment Management Group boosted its stake in shares of 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 raised its position in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after purchasing an additional 726,115 shares during the period. Bank of New York Mellon Corp boosted its position in shares of The PNC Financial Services Group by 22.5% in the 4th 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 purchasing an additional 710,311 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of The PNC Financial Services Group by 5.3% in 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 buying an additional 549,278 shares during the period. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $160.61 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a fifty day simple moving average of $168.43 and a 200-day simple moving average of $187.93. The stock has a market capitalization of $63.56 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year 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 for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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

Insider Transactions at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction dated Friday, April 25th. The stock was acquired at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the transaction, the director now owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This represents a 99.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 13,662 shares of company stock worth $2,370,382 over the last three months. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Stephens reiterated 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. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods lowered their target price 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. Finally, Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Hold" and a consensus target price 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.

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