The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.6% during the 4th quarter, Holdings Channel reports. The firm owned 934,440 shares of the financial services provider’s stock after selling 99,221 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in The PNC Financial Services Group were worth $144,698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crumly & Associates Inc. purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $459,000. Louisiana State Employees Retirement System purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $3,732,000. Simplicity Solutions LLC increased its holdings in shares of The PNC Financial Services Group by 2.2% during the 4th quarter. Simplicity Solutions LLC now owns 13,142 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 286 shares during the last quarter. Vaughan David Investments LLC IL raised its position in shares of The PNC Financial Services Group by 5.7% in the 4th quarter. Vaughan David Investments LLC IL now owns 251,447 shares of the financial services provider’s stock worth $38,937,000 after buying an additional 13,648 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PNC shares. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an “underperform” rating in a report on Friday, April 5th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Jefferies Financial Group increased their price target on The PNC Financial Services Group from $164.00 to $171.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, UBS Group upped their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $157.10.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.7 %

NYSE:PNC opened at $149.56 on Tuesday. The stock has a 50-day simple moving average of $151.88 and a 200 day simple moving average of $141.47. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a market capitalization of $59.50 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.49 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.42 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 Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.15%. The PNC Financial Services Group’s payout ratio is currently 48.48%.

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.