Russell Investments Group Ltd. Decreases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Russell Investments Group Ltd. cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,035 shares of the financial services provider’s stock after selling 12,237 shares during the quarter. Russell Investments Group Ltd.’s holdings in The PNC Financial Services Group were worth $27,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after acquiring an additional 893,808 shares in the last quarter. International Assets Investment Management LLC raised its holdings in The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after acquiring an additional 639,903 shares in the last quarter. Invesco Ltd. raised its holdings in The PNC Financial Services Group by 10.4% in the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after acquiring an additional 484,475 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in The PNC Financial Services Group by 44.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after acquiring an additional 477,367 shares in the last quarter. Finally, Cambiar Investors LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $37,314,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Jefferies Financial Group reduced their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. StockNews.com downgraded shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.02.

The PNC Financial Services Group Stock Up 0.4 %

The PNC Financial Services Group stock opened at $153.94 on Thursday. The stock has a market cap of $61.24 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.73 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company’s 50-day moving average price is $153.18 and its two-hundred day moving average price is $144.07. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.98 EPS. On average, analysts expect that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.03%. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group 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.