The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Decreased by American International Group Inc.

American International Group Inc. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,758 shares of the financial services provider’s stock after selling 841 shares during the quarter. American International Group Inc.’s holdings in The PNC Financial Services Group were worth $18,854,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after purchasing an additional 1,978,854 shares during the period. FMR LLC increased its stake in The PNC Financial Services Group by 6.7% during the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after buying an additional 893,808 shares during the period. Norges Bank bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $1,039,481,000. Invesco Ltd. boosted its holdings in shares of 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. Finally, Franklin Resources Inc. increased its stake in shares of The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after acquiring an additional 3,046,226 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PNC. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Evercore ISI reduced their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $157.02.

The PNC Financial Services Group Stock Up 0.3 %

Shares of NYSE PNC traded up $0.44 during mid-day trading on Wednesday, reaching $154.60. The company had a trading volume of 1,218,922 shares, compared to its average volume of 1,952,756. The stock has a fifty day moving average of $155.87 and a two-hundred day moving average of $150.70. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a market capitalization of $61.52 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.99 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm earned $3.98 EPS. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.01%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

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.