CANADA LIFE ASSURANCE Co Buys 12,064 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

CANADA LIFE ASSURANCE Co boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 399,661 shares of the financial services provider's stock after acquiring an additional 12,064 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.10% of The PNC Financial Services Group worth $77,102,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Mechanics Financial Corp acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $541,000. AssuredPartners Investment Advisors LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $739,000. Premier Fund Managers Ltd increased its position in The PNC Financial Services Group by 38.3% in the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock worth $9,511,000 after buying an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock worth $7,739,000 after acquiring an additional 8,081 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock valued at $5,160,000 after purchasing an additional 8,735 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PNC. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Keefe, Bruyette & Woods decreased their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned 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 presently has an average rating of "Hold" and an average price target of $200.88.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the sale, the chief executive officer now owns 562,291 shares of the company's stock, valued at $84,624,795.50. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 12,460 shares of company stock worth $2,223,979. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 2.2 %

NYSE:PNC traded up $3.35 on Wednesday, reaching $157.80. The company's stock had a trading volume of 1,109,096 shares, compared to its average volume of 1,987,974. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The business's 50-day moving average price is $171.91 and its two-hundred day moving average price is $188.77. The firm has a market cap of $62.45 billion, a PE ratio of 11.48, a PEG ratio of 1.55 and a beta of 1.04. 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 (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Equities research analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

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.