Capital Research Global Investors Reduces Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital Research Global Investors lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,375,249 shares of the financial services provider's stock after selling 2,033,971 shares during the quarter. Capital Research Global Investors owned 2.61% of The PNC Financial Services Group worth $2,000,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $25,000. Richardson Financial Services Inc. increased its stake in shares of The PNC Financial Services Group by 2,333.3% in the fourth 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 shares of The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC traded up $3.06 during midday trading on Wednesday, hitting $157.51. 3,145,613 shares of the company traded hands, compared to its average volume of 2,593,150. The stock has a market cap of $62.33 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.55 and a beta of 1.04. The firm has a 50 day moving average of $171.91 and a 200-day moving average of $188.77. 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 PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.06%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 641 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the transaction, the chief executive officer now owns 562,291 shares in the company, valued at $84,624,795.50. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 12,460 shares of company stock valued at $2,223,979. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. 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 for the company in a research report on Friday, March 28th. Royal Bank of Canada lowered their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Citigroup dropped their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $200.88.

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.