Alliancebernstein L.P. Has $103.27 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Alliancebernstein L.P. reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 535,484 shares of the financial services provider's stock after selling 32,632 shares during the quarter. Alliancebernstein L.P. owned 0.13% of The PNC Financial Services Group worth $103,268,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in The PNC Financial Services Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock valued at $7,273,794,000 after buying an additional 268,827 shares in the last quarter. State Street Corp lifted its position in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock worth $3,197,791,000 after purchasing an additional 100,573 shares during the period. Franklin Resources Inc. increased its position in shares of The PNC Financial Services Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider's stock valued at $1,939,154,000 after purchasing an additional 123,994 shares during the period. Geode Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider's stock worth $1,541,155,000 after buying an additional 166,138 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $1,352,151,000. Institutional investors own 83.53% of the company's stock.

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The PNC Financial Services Group Price Performance

Shares of PNC traded down $1.54 during trading hours on Monday, hitting $151.57. The stock had a trading volume of 1,705,280 shares, compared to its average volume of 1,905,409. 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 capitalization of $59.98 billion, a price-to-earnings ratio of 11.02, a P/E/G 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 company's fifty day moving average is $184.93 and its two-hundred day moving average is $191.80.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its 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 company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.16 earnings per share. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS 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. Stockholders of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PNC shares. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Morgan Stanley boosted their price objective on 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. Wells Fargo & Company cut their target price 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 note on Friday, March 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $205.18.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company'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 directly owns 525,071 shares of the company's stock, valued at approximately $103,964,058. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

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.