388,571 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP bought a new stake 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 13F filing with the Securities and Exchange Commission. The institutional investor bought 388,571 shares of the financial services provider's stock, valued at approximately $74,936,000. The PNC Financial Services Group accounts for 0.5% of ExodusPoint Capital Management LP's portfolio, making the stock its 18th largest holding. ExodusPoint Capital Management LP owned approximately 0.10% of The PNC Financial Services Group as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PNC. Vanguard Group Inc. boosted its holdings in The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after purchasing an additional 268,827 shares during the last quarter. State Street Corp increased its position in The PNC Financial Services Group by 0.6% during the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock valued at $3,197,791,000 after acquiring an additional 100,573 shares during the last quarter. Franklin Resources Inc. lifted its holdings 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 valued at $2,089,622,000 after acquiring an additional 549,278 shares during the period. Geode Capital Management LLC boosted its position in The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider's stock worth $1,541,155,000 after purchasing an additional 166,138 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of 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 purchasing an additional 726,115 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

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Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the completion of the transaction, the chief executive officer now owns 525,071 shares of the company's stock, valued at approximately $103,964,058. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 12,420 shares of company stock worth $2,320,739 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.9 %

NYSE PNC traded up $1.34 during trading on Tuesday, reaching $154.15. 1,954,879 shares of the company's stock traded hands, compared to its average volume of 1,919,524. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $61.00 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company's 50 day simple moving average is $183.93 and its two-hundred day simple moving average is $191.55.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the firm posted $3.16 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side 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 firm also recently announced 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 is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.15%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Analysts Set New Price Targets

PNC has been the topic of several recent research reports. Barclays increased their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Stephens reaffirmed an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Wells Fargo & Company dropped their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Morgan Stanley dropped 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 report on Monday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.