Voya Investment Management LLC Cuts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Voya Investment Management LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,091,369 shares of the financial services provider's stock after selling 71,367 shares during the quarter. Voya Investment Management LLC owned approximately 0.28% of The PNC Financial Services Group worth $210,397,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PNC. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. raised its stake in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth $30,000. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $32,000. Finally, Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. 83.53% of the stock is currently owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 13,061 shares of company stock worth $2,274,222 in the last 90 days. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 0.7 %

Shares of The PNC Financial Services Group stock traded up $1.07 during trading on Tuesday, reaching $160.72. The company's stock had a trading volume of 510,517 shares, compared to its average volume of 1,993,171. 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, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The firm's 50-day moving average is $169.06 and its two-hundred day moving average is $188.12. The company has a market cap of $63.61 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted 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 business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. On average, sell-side 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 Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. 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 report on Wednesday, April 16th. Citigroup reduced their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Stephens restated 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. 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 research report on Thursday, April 3rd. Finally, Wells Fargo & Company lowered their price objective on 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock 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.