The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 8.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,291,060 shares of the financial services provider's stock after selling 468,655 shares during the period. Invesco Ltd. owned 1.33% of The PNC Financial Services Group worth $1,020,381,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $25,000. Richardson Financial Services Inc. increased its stake 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 worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PNC shares. 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 note on Thursday, April 3rd. Barclays raised their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Finally, Stephens reissued an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $203.47.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 601 shares of the company's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total transaction of $96,160.00. Following the completion of the sale, the chief executive officer now directly owns 563,573 shares in the company, valued at $90,171,680. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 12,420 shares of company stock valued at $2,276,870 over the last quarter. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Down 0.4 %

PNC traded down $0.59 during trading on Friday, hitting $151.57. The company's stock had a trading volume of 3,850,177 shares, compared to its average volume of 1,968,566. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The firm's 50 day moving average price is $178.30 and its 200-day moving average price is $190.17. 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 stock has a market cap of $59.98 billion, a PE ratio of 11.02, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 4.22%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

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.