Capital International Investors Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital International Investors reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,210,138 shares of the financial services provider's stock after selling 2,372,816 shares during the quarter. Capital International Investors owned 3.08% of The PNC Financial Services Group worth $2,354,688,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Capital International Sarl raised its position in The PNC Financial Services Group by 4.0% in the fourth quarter. Capital International Sarl now owns 14,278 shares of the financial services provider's stock worth $2,754,000 after acquiring an additional 553 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of The PNC Financial Services Group by 3.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 399,661 shares of the financial services provider's stock worth $77,102,000 after buying an additional 12,064 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of The PNC Financial Services Group by 8.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 490,328 shares of the financial services provider's stock worth $94,560,000 after buying an additional 37,449 shares during the period. Marshall Wace LLP purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $2,945,000. Finally, NewEdge Advisors LLC grew its stake in shares of The PNC Financial Services Group by 9.0% during the 4th quarter. NewEdge Advisors LLC now owns 30,522 shares of the financial services provider's stock valued at $5,886,000 after acquiring an additional 2,519 shares during the period. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 2.7 %

PNC stock traded up $4.19 during midday trading on Wednesday, reaching $158.64. 1,200,825 shares of the company traded hands, compared to its average volume of 1,988,385. The firm has a market capitalization of $62.78 billion, a price-to-earnings ratio of 11.54, a P/E/G 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 business has a 50 day moving average of $171.91 and a 200-day moving average of $188.77. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating 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 business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. As a group, sell-side 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 Announces Dividend

The company also recently disclosed 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 yield of 4.03%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the firm's stock in a transaction that occurred 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 directly owns 562,291 shares of the company's stock, valued at approximately $84,624,795.50. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 12,460 shares of company stock worth $2,223,979 over the last 90 days. Company insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Stephens reiterated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays lowered their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Royal Bank of Canada lowered their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $200.88.

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.