CCM Investment Advisers LLC reduced its position in PNC Financial Services Group Inc (NYSE:PNC) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,908 shares of the financial services provider’s stock after selling 6,164 shares during the period. PNC Financial Services Group accounts for about 1.9% of CCM Investment Advisers LLC’s portfolio, making the stock its 25th largest position. CCM Investment Advisers LLC’s holdings in PNC Financial Services Group were worth $9,798,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of PNC Financial Services Group by 1.5% in the 4th quarter. BlackRock Inc. now owns 28,181,864 shares of the financial services provider’s stock valued at $4,066,361,000 after buying an additional 402,904 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of PNC Financial Services Group by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,847,813 shares of the financial services provider’s stock valued at $697,972,000 after buying an additional 113,304 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of PNC Financial Services Group by 21.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,762,394 shares of the financial services provider’s stock valued at $507,045,000 after buying an additional 657,161 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of PNC Financial Services Group by 2.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 2,986,575 shares of the financial services provider’s stock valued at $430,933,000 after buying an additional 69,511 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of PNC Financial Services Group by 1.8% in the 3rd quarter. Legal & General Group Plc now owns 2,536,357 shares of the financial services provider’s stock valued at $341,835,000 after buying an additional 44,916 shares in the last quarter. Institutional investors and hedge funds own 82.23% of the company’s stock.

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Shares of PNC Financial Services Group stock opened at $158.89 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.92 and a current ratio of 0.93. PNC Financial Services Group Inc has a 12 month low of $115.25 and a 12 month high of $163.59. The company has a market cap of $75,185.66, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.48 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.51%. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the business posted $1.97 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. equities research analysts predict that PNC Financial Services Group Inc will post 10.51 earnings per share for the current year.

A number of analysts recently commented on PNC shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $162.00 target price on shares of PNC Financial Services Group in a research note on Friday, December 29th. Morgan Stanley lifted their target price on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Goldman Sachs cut shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Bank of America lifted their target price on shares of PNC Financial Services Group from $160.00 to $166.00 and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $150.00 target price on shares of PNC Financial Services Group in a research note on Friday, January 5th. Nineteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $146.89.

In other news, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the completion of the transaction, the insider now directly owns 58,820 shares of the company’s stock, valued at approximately $9,070,044. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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