Envestnet Asset Management Inc. Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Envestnet Asset Management Inc. lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,651,217 shares of the financial services provider's stock after acquiring an additional 12,150 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.42% of The PNC Financial Services Group worth $318,437,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group in the 4th quarter worth about $25,000. Richardson Financial Services Inc. increased its position in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the fourth quarter worth $30,000. Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $32,000. Institutional investors own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $196.17, for a total transaction of $243,643.14. Following the transaction, the chief executive officer now owns 523,829 shares in the company, valued at $102,759,534.93. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 12,420 shares of company stock worth $2,276,870 over the last quarter. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Down 0.8 %

Shares of NYSE:PNC traded down $1.15 during trading on Friday, reaching $151.01. 1,189,154 shares of the company traded hands, compared to its average volume of 1,955,889. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The business's fifty day moving average is $179.25 and its 200-day moving average is $190.38. The firm has a market capitalization of $59.76 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 1.55 and a beta of 1.04.

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 for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 46.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PNC shares. 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 upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Morgan Stanley dropped their price objective on The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating on the stock in a report on Monday. 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, JPMorgan Chase & Co. cut their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.