42,485 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Capital World Investors

Capital World Investors acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 42,485 shares of the financial services provider's stock, valued at approximately $8,193,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after purchasing an additional 22,271 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $481,000. Wealthquest Corp bought a new position in The PNC Financial Services Group during the third quarter valued at approximately $212,000. Wilmington Savings Fund Society FSB grew its holdings in The PNC Financial Services Group by 86.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider's stock valued at $6,367,000 after buying an additional 15,962 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in The PNC Financial Services Group by 3.7% in the 3rd quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider's stock worth $2,631,000 after acquiring an additional 509 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 1.4 %

Shares of NYSE PNC opened at $150.19 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The firm has a market cap of $59.44 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The business has a fifty day simple moving average of $172.72 and a two-hundred day simple moving average of $189.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.26%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PNC shares. Barclays cut their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Keefe, Bruyette & Woods lowered their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. reduced their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Hold" and an average target price of $200.88.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $150.63, for a total value of $96,553.83. Following the completion of the transaction, the chief executive officer now directly owns 562,932 shares in the company, valued at approximately $84,794,447.16. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 11,819 shares of company stock valued at $2,127,508. Corporate insiders own 0.41% of the company's stock.

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.

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