The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,500 shares of the financial services provider’s stock after selling 200 shares during the period. Paradigm Asset Management Co. LLC’s holdings in The PNC Financial Services Group were worth $1,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC increased its position in The PNC Financial Services Group by 6.7% during the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after purchasing an additional 893,808 shares during the period. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $1,039,481,000. Invesco Ltd. boosted its stake in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after acquiring an additional 484,475 shares in the last quarter. Franklin Resources Inc. lifted its stake in The PNC Financial Services Group by 165.4% in the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after buying an additional 3,046,226 shares in the last quarter. Finally, Northern Trust Corp lifted its stake 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 buying an additional 93,636 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.0 %

Shares of The PNC Financial Services Group stock traded up $1.49 during trading hours on Monday, hitting $154.26. 1,486,400 shares of the company’s stock traded hands, compared to its average volume of 1,953,585. The stock has a 50 day simple moving average of $155.95 and a 200-day simple moving average of $149.24. 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 company has a market cap of $61.38 billion, a PE ratio of 12.95, a PEG ratio of 2.97 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion during 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 company’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm earned $3.98 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.02%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PNC. Bank of America upped their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Morgan Stanley increased their price target 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. JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $157.02.

Read Our Latest Analysis on PNC

The PNC Financial Services Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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