Prudential PLC Has $22.69 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Prudential PLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,675 shares of the financial services provider's stock after purchasing an additional 13,638 shares during the period. Prudential PLC's holdings in The PNC Financial Services Group were worth $22,694,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. raised its stake 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 in 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 acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PNC shares. Wells Fargo & Company decreased their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Barclays upped their price objective 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. Finally, Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $203.47.

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The PNC Financial Services Group Trading Down 2.0 %

Shares of The PNC Financial Services Group stock traded down $2.95 during trading on Wednesday, hitting $146.81. The company's stock had a trading volume of 1,031,778 shares, compared to its average volume of 1,928,631. The stock has a market cap of $58.10 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The stock has a 50-day moving average price of $181.81 and a two-hundred day moving average price of $191.00. 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 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business earned $3.16 EPS. The company's revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.36%. The PNC Financial Services Group's payout ratio is currently 46.55%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $198.00, for a total value of $245,916.00. Following the completion of the sale, the chief executive officer now directly owns 525,071 shares in the company, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 13,061 shares of company stock valued at $2,420,267. Corporate insiders own 0.41% of the company's stock.

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.