Morningstar Investment Management LLC Sells 8,926 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Morningstar Investment Management LLC trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 72.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,439 shares of the financial services provider's stock after selling 8,926 shares during the quarter. Morningstar Investment Management LLC's holdings in The PNC Financial Services Group were worth $663,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. grew its position in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the 4th quarter worth about $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the sale, the chief executive officer now owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 12,420 shares of company stock worth $2,474,722 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the topic of several research analyst reports. Stephens restated an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of "Hold" and a consensus target price of $205.00.

The PNC Financial Services Group Trading Down 2.1 %

The PNC Financial Services Group stock traded down $3.99 during mid-day trading on Friday, reaching $187.90. 1,991,887 shares of the company traded hands, compared to its average volume of 2,191,146. 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, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The firm has a market capitalization of $74.55 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.57 and a beta of 1.16. The firm's 50 day moving average price is $196.34 and its 200 day moving average price is $191.49.

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 (EPS) for the quarter, beating 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 company had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the previous year, the company earned $3.16 earnings per share. The PNC Financial Services Group's quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is presently 46.55%.

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.