Allspring Global Investments Holdings LLC Grows Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Allspring Global Investments Holdings LLC grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 69.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,440 shares of the financial services provider's stock after buying an additional 20,621 shares during the period. Allspring Global Investments Holdings LLC's holdings in The PNC Financial Services Group were worth $9,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P lifted its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock worth $115,000 after purchasing an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its holdings in The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock worth $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock worth $434,000 after purchasing an additional 53 shares in the last quarter. MFA Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after purchasing an additional 55 shares in the last quarter. Finally, Altman Advisors Inc. increased its stake in The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock worth $1,942,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the sale, the chief executive officer now owns 532,523 shares in the company, valued at approximately $111,425,112.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 12,420 shares of company stock worth $2,474,722. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Down 2.1 %

PNC traded down $3.99 on Friday, hitting $187.90. 1,991,788 shares of the company were exchanged, compared to its average volume of 2,187,851. The firm has a fifty day simple moving average of $196.34 and a two-hundred day simple moving average of $191.49. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The stock has a market capitalization of $74.55 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company earned $3.16 EPS. The PNC Financial Services Group's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.41%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PNC shares. Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Morgan Stanley upped their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Stephens restated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Compass Point upped their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $205.00.

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.