River Road Asset Management LLC Sells 2,847 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

River Road Asset Management LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 175,432 shares of the financial services provider’s stock after selling 2,847 shares during the period. River Road Asset Management LLC’s holdings in The PNC Financial Services Group were worth $27,166,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. 1832 Asset Management L.P. boosted its position in shares of The PNC Financial Services Group by 33.5% during the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 67 shares in the last quarter. Bangor Savings Bank boosted its position in shares of The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 69 shares in the last quarter. Oakworth Capital Inc. grew its stake in shares of The PNC Financial Services Group by 11.7% in the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after buying an additional 75 shares during the period. Caprock Group LLC grew its stake in The PNC Financial Services Group by 0.9% in the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after acquiring an additional 79 shares during the period. Finally, KCM Investment Advisors LLC increased its stake in The PNC Financial Services Group by 7.1% during the 1st quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PNC. 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 research report on Monday, April 1st. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Finally, UBS Group boosted their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $147.22 on Thursday. The stock has a fifty day simple moving average of $151.80 and a two-hundred day simple moving average of $141.68. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The firm has a market cap of $58.57 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping 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 firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $3.98 earnings per share. The company’s quarterly revenue was down 8.2% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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 given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

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.