Dimensional Fund Advisors LP Acquires 16,999 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Dimensional Fund Advisors LP lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,238,274 shares of the financial services provider's stock after purchasing an additional 16,999 shares during the quarter. Dimensional Fund Advisors LP owned about 0.56% of The PNC Financial Services Group worth $431,655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mechanics Financial Corp acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $541,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $739,000. Premier Fund Managers Ltd raised its holdings in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock worth $9,511,000 after purchasing an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 valued at $7,739,000 after buying an additional 8,081 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings 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 acquiring an additional 8,735 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the transaction, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 12,460 shares of company stock valued at $2,223,979. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Up 2.0 %

Shares of NYSE:PNC traded up $3.06 during trading on Wednesday, reaching $157.51. The stock had a trading volume of 3,145,613 shares, compared to its average volume of 1,995,289. The stock has a market cap of $62.33 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The firm's fifty day moving average is $171.91 and its 200 day moving average is $188.77. 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 released 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 firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.06%. The PNC Financial Services Group's payout ratio is 45.20%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research reports. JPMorgan Chase & Co. decreased 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 report on Thursday, April 3rd. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Stephens restated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada cut their price objective 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 issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $200.88.

The PNC Financial Services Group 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.