Andra AP fonden Sells 21,700 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Andra AP fonden lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 50.6% during the fourth quarter, Holdings Channel reports. The firm owned 21,200 shares of the financial services provider’s stock after selling 21,700 shares during the quarter. Andra AP fonden’s holdings in The PNC Financial Services Group were worth $4,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Bank of New York Mellon Corp lifted 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 worth $746,435,000 after purchasing an additional 710,311 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in The PNC Financial Services Group by 88.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Toronto Dominion Bank lifted its position in The PNC Financial Services Group by 129.3% during the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock valued at $82,768,000 after buying an additional 252,473 shares during the period. Proficio Capital Partners LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $37,587,000. Finally, KBC Group NV lifted its holdings in shares of The PNC Financial Services Group by 214.4% during the fourth quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock valued at $52,375,000 after purchasing an additional 185,210 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $203.06, for a total value of $252,200.52. Following the sale, the chief executive officer now owns 531,281 shares of the company’s stock, valued at $107,881,919.86. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 12,420 shares of company stock valued at $2,421,788. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PNC shares. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Trading Up 0.4 %

PNC stock opened at $179.75 on Friday. The company has a market capitalization of $71.14 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The business has a 50 day simple moving average of $194.20 and a two-hundred day simple moving average of $192.82.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.16 earnings per share. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

The PNC Financial Services Group 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.