Sterling Capital Management LLC Sells 3,262 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sterling Capital Management LLC cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,354 shares of the financial services provider's stock after selling 3,262 shares during the period. Sterling Capital Management LLC's holdings in The PNC Financial Services Group were worth $5,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 268,827 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock valued at $2,089,622,000 after buying an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in 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. Norges Bank bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $1,352,151,000. Finally, Bank of New York Mellon Corp grew its position in The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after buying an additional 710,311 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

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The PNC Financial Services Group Price Performance

NYSE:PNC traded up $2.92 during trading hours on Monday, reaching $154.91. 3,486,398 shares of the company were exchanged, compared to its average volume of 1,976,540. The stock's 50-day moving average is $177.42 and its 200-day moving average is $190.02. 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 firm has a market cap of $61.31 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS 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 business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business posted $3.16 earnings per share. The company's quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be given 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 4.13%. The PNC Financial Services Group's payout ratio is currently 46.55%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stephens restated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. 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 on the stock in a report on Monday, April 7th. Finally, Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $203.47.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $150.63, for a total value of $96,553.83. Following the completion of the sale, the chief executive officer now directly owns 562,932 shares in the company, valued at approximately $84,794,447.16. This represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 13,061 shares of company stock valued at $2,373,424 in the last 90 days. 0.41% of the stock is currently owned by insiders.

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.