APG Asset Management N.V. Acquires New Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

APG Asset Management N.V. purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 217,800 shares of the financial services provider's stock, valued at approximately $40,563,000. APG Asset Management N.V. owned about 0.05% of The PNC Financial Services Group at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $1,352,151,000. Schroder Investment Management Group increased its stake in The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after acquiring an additional 860,554 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after buying an additional 726,115 shares during the period. Bank of New York Mellon Corp raised its stake in shares of The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after acquiring an additional 710,311 shares during the period. Finally, Franklin Resources Inc. lifted its stake in The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after purchasing an additional 549,278 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Activity

In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $155.27, for a total value of $99,528.07. Following the sale, the chief executive officer now owns 564,174 shares in the company, valued at $87,599,296.98. This trade represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 12,420 shares of company stock worth $2,276,870 in the last quarter. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded up $2.47 on Monday, hitting $154.46. The company had a trading volume of 863,701 shares, compared to its average volume of 2,516,934. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The firm has a market cap of $61.13 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a 50-day moving average price of $178.30 and a 200-day moving average price of $190.22. 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 posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.16 EPS. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 46.55%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Citigroup cut their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Wells Fargo & Company dropped their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $203.47.

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.