Sumitomo Mitsui Trust Holdings Inc. Cuts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 934,440 shares of the financial services provider’s stock after selling 99,221 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of The PNC Financial Services Group worth $144,698,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PNC. Blair William & Co. IL raised its stake in The PNC Financial Services Group by 0.5% in the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after buying an additional 89 shares in the last quarter. Cetera Investment Advisers raised its position in shares of The PNC Financial Services Group by 12.0% in the 1st quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock worth $2,977,000 after acquiring an additional 1,724 shares in the last quarter. Covestor Ltd lifted its stake in shares of The PNC Financial Services Group by 68.8% during the 1st quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 137 shares during the last quarter. West Family Investments Inc. boosted its position in The PNC Financial Services Group by 9.1% during the first quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 97 shares in the last quarter. Finally, Ergoteles LLC boosted its position in The PNC Financial Services Group by 137.9% during the first quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock valued at $3,882,000 after purchasing an additional 12,201 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PNC. UBS Group raised their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. 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 company a “neutral” rating in a research report on Monday, April 1st. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Morgan Stanley raised their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Finally, Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $157.10.

The PNC Financial Services Group Stock Down 0.7 %

The PNC Financial Services Group stock opened at $149.56 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The stock has a market capitalization of $59.50 billion, a PE 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 current ratio of 0.84 and a quick ratio of 0.84. The business 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 (NYSE:PNC) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping the consensus estimate of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the firm earned $3.49 EPS. The firm’s revenue was down 7.0% compared to the same quarter last year. On average, analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.15%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 48.48%.

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.