National Pension Service Buys 20,689 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

National Pension Service lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 802,833 shares of the financial services provider’s stock after purchasing an additional 20,689 shares during the quarter. National Pension Service owned 0.20% of The PNC Financial Services Group worth $124,319,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in shares of The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after buying an additional 893,808 shares in the last quarter. Invesco Ltd. raised its position in The PNC Financial Services Group by 10.4% in the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after purchasing an additional 484,475 shares during the last quarter. Northern Trust Corp boosted its stake in The PNC Financial Services Group by 2.0% in the third quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock worth $577,267,000 after purchasing an additional 93,636 shares in the last quarter. Morgan Stanley grew its holdings in shares of The PNC Financial Services Group by 1.0% during the third quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock worth $473,767,000 after purchasing an additional 36,362 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of The PNC Financial Services Group by 2.5% in the third quarter. Royal Bank of Canada now owns 3,327,229 shares of the financial services provider’s stock valued at $408,485,000 after buying an additional 82,406 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PNC shares. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Jefferies Financial Group decreased their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. UBS Group boosted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Finally, StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $157.02.

The PNC Financial Services Group Trading Up 0.7 %

The PNC Financial Services Group stock traded up $1.09 during mid-day trading on Wednesday, hitting $157.24. 1,254,443 shares of the company’s stock were exchanged, compared to its average volume of 2,038,685. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $62.55 billion, a P/E ratio of 13.20, a PEG ratio of 1.77 and a beta of 1.16. The company’s 50 day simple moving average is $154.02 and its 200-day simple moving average is $145.39.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the firm earned $3.98 EPS. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.94%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

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.