The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Trimmed by First National Trust Co

First National Trust Co cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.3% during the 4th quarter, HoldingsChannel reports. The firm owned 21,061 shares of the financial services provider’s stock after selling 2,411 shares during the quarter. First National Trust Co’s holdings in The PNC Financial Services Group were worth $3,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its position in The PNC Financial Services Group by 6.7% in the 3rd 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 last quarter. Invesco Ltd. lifted 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 lifted its position in The PNC Financial Services Group by 2.0% in the 3rd 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 last quarter. Morgan Stanley lifted its position in The PNC Financial Services Group by 1.0% in the 3rd quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock valued at $473,767,000 after purchasing an additional 36,362 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in The PNC Financial Services Group by 2.5% in the 3rd quarter. Royal Bank of Canada now owns 3,327,229 shares of the financial services provider’s stock valued at $408,485,000 after purchasing an additional 82,406 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Transactions 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 shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly 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 accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on PNC. Evercore ISI dropped their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Bank of America boosted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, UBS Group boosted their price target on shares of 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.02.

The PNC Financial Services Group Trading Up 0.3 %

Shares of The PNC Financial Services Group stock traded up $0.54 during trading on Friday, hitting $156.22. The stock had a trading volume of 1,141,551 shares, compared to its average volume of 1,722,543. The stock has a 50 day simple moving average of $153.58 and a 200 day simple moving average of $144.41. The company has a market capitalization of $62.15 billion, a PE ratio of 13.12, a P/E/G ratio of 1.76 and a beta of 1.16. 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 PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The business 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 net margin of 16.05% and a return on equity of 11.64%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm posted $3.98 earnings per share. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced 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. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) 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.