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

Greenleaf Trust reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,078 shares of the financial services provider’s stock after selling 550 shares during the period. Greenleaf Trust’s holdings in The PNC Financial Services Group were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after purchasing an additional 860,489 shares during the period. Geode Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 2.4% in the first quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock valued at $915,146,000 after purchasing an additional 171,876 shares during the period. Invesco Ltd. increased its holdings in shares of The PNC Financial Services Group by 10.4% in the third 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 period. Finally, Northern Trust Corp increased its holdings in shares of 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 valued at $577,267,000 after purchasing an additional 93,636 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America increased their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group cut 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 report on Wednesday. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday. UBS Group upped 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 note on Thursday, January 18th. Finally, Wells Fargo & Company upped their target price 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.63.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $152.30 on Friday. The company has a market capitalization of $60.59 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.72 and a beta of 1.18. The business’s 50 day moving average is $151.89 and its two-hundred day moving average is $142.10. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 earnings per share. Analysts expect that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.07%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

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.