Geode Capital Management LLC Increases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Geode Capital Management LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,374,866 shares of the financial services provider's stock after purchasing an additional 7,442 shares during the quarter. Geode Capital Management LLC owned about 2.11% of The PNC Financial Services Group worth $1,610,753,000 as of its most recent SEC filing.

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

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group 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 transaction, the chief executive officer now directly owns 525,071 shares of the company's stock, valued at $103,964,058. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 12,420 shares of company stock worth $2,320,739. 0.41% of the stock is owned by insiders.

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The PNC Financial Services Group Stock Down 5.2 %

PNC stock traded down $8.44 during midday trading on Friday, reaching $152.85. 4,147,372 shares of the company were exchanged, compared to its average volume of 1,905,861. The stock's 50-day simple moving average is $184.93 and its 200 day simple moving average is $191.73. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. 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 company has a market cap of $60.49 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.16 earnings per share. On average, equities analysts forecast 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 company also recently declared 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. This represents a $6.40 annualized dividend and a yield of 4.19%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Compass Point lifted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and an average target price of $205.18.

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.