The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 20.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,675,844 shares of the financial services provider's stock after selling 698,851 shares during the quarter. Legal & General Group Plc owned 0.67% of The PNC Financial Services Group worth $516,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. increased its stake in 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 during the period. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 0.4 %

PNC traded down $0.59 during trading on Friday, hitting $151.57. The stock had a trading volume of 3,850,177 shares, compared to its average volume of 1,970,491. The stock has a 50 day simple moving average of $178.30 and a two-hundred day simple moving average of $190.22. 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 twelve month low of $143.52 and a twelve month high of $216.26. The company has a market capitalization of $59.98 billion, a PE ratio of 11.02, a PEG ratio of 1.55 and a beta of 1.04.

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, 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 firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $3.16 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders 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 annualized dividend and a dividend yield of 4.22%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $196.17, for a total value of $243,643.14. Following the completion of the transaction, the chief executive officer now owns 523,829 shares of the company's stock, valued at approximately $102,759,534.93. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 12,420 shares of company stock valued at $2,276,870 in the last three months. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PNC shares. Citigroup lowered their price objective 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. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Stephens reiterated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Wells Fargo & Company dropped their price target on 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. Finally, HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price objective for the company from $206.00 to $202.00 in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $203.47.

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.