The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,814 shares of the financial services provider’s stock after selling 3,674 shares during the period. First Manhattan CO. LLC.’s holdings in The PNC Financial Services Group were worth $10,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PNC. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% in the 4th 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 during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several recent research reports. The Goldman Sachs Group reduced their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Royal Bank of Canada cut their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays decreased their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $200.88.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $166.44 on Friday. 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 firm has a market capitalization of $65.84 billion, a PE ratio of 12.10, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The business’s fifty day moving average price is $164.74 and its two-hundred day moving average price is $186.58.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.85%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $163.16, for a total value of $202,644.72. Following the transaction, the chief executive officer now directly owns 558,605 shares of the company’s stock, valued at $91,141,991.80. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director now directly owns 2,009 shares of the company’s stock, valued at $317,863.98. This trade represents a 99.11 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 13,662 shares of company stock worth $2,322,006 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

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.