Heartland Advisors Inc. Trims Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Heartland Advisors Inc. lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 39.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,953 shares of the financial services provider’s stock after selling 37,569 shares during the period. Heartland Advisors Inc.’s holdings in The PNC Financial Services Group were worth $8,819,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PNC. FMR LLC lifted its holdings in shares of 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 worth $1,758,880,000 after acquiring an additional 893,808 shares during the period. Invesco Ltd. boosted its holdings in shares of The PNC Financial Services Group by 10.4% in the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after purchasing an additional 484,475 shares during the last quarter. Northern Trust Corp grew its stake in shares of The PNC Financial Services Group by 2.0% during the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock valued at $577,267,000 after buying an additional 93,636 shares during the period. Morgan Stanley increased its holdings in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock worth $473,767,000 after buying an additional 36,362 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of The PNC Financial Services Group by 2.5% in the 3rd quarter. Royal Bank of Canada now owns 3,327,229 shares of the financial services provider’s stock worth $408,485,000 after buying an additional 82,406 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 0.3 %

Shares of PNC stock traded up $0.50 during mid-day trading on Friday, reaching $161.39. 162,964 shares of the company were exchanged, compared to its average volume of 1,973,487. 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 business’s 50 day simple moving average is $155.24 and its 200 day simple moving average is $147.22. The company has a market capitalization of $64.22 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.83 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two 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 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm earned $3.98 EPS. The company’s revenue was down 8.2% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PNC shares. JPMorgan Chase & Co. lowered their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. UBS Group raised their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. 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. Bank of America increased their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $157.02.

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.