The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 535,484 shares of the financial services provider’s stock after selling 32,632 shares during the period. Alliancebernstein L.P. owned 0.13% of The PNC Financial Services Group worth $103,268,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $541,000. AssuredPartners Investment Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $739,000. Premier Fund Managers Ltd boosted its stake in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after buying an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after acquiring an additional 8,735 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

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 company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the transaction, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 13,662 shares of company stock valued at $2,559,389 in the last ninety days. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 1.5 %

The PNC Financial Services Group stock opened at $177.24 on Thursday. The stock has a market cap of $70.14 billion, a PE ratio of 12.89, a P/E/G ratio of 1.55 and a beta of 1.04. 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’s fifty day moving average is $186.59 and its two-hundred day moving average is $192.07. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued 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 business had revenue of $5.57 billion for 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.16 EPS. On average, sell-side analysts expect 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. 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. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price objective for the company from $206.00 to $202.00 in a research note on Monday. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Barclays increased their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $204.12.

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.