The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 37.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 588,427 shares of the financial services provider’s stock after selling 345,358 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.15% of The PNC Financial Services Group worth $113,479,000 as of its most recent SEC filing.

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

The PNC Financial Services Group Trading Down 0.8 %

The PNC Financial Services Group stock opened at $158.49 on Monday. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. 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 stock has a market capitalization of $62.72 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm has a 50 day simple moving average of $169.74 and a 200-day simple moving average of $188.32.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. As a group, equities research analysts expect 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 firm also recently declared 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. This represents a $6.40 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the sale, the chief executive officer now directly owns 571,025 shares of the company’s stock, valued at $109,893,761.25. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 12,420 shares of company stock worth $2,172,655. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PNC shares. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Royal Bank of Canada decreased their price target 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. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group decreased their target price 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. Finally, HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average 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.