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

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

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Oakworth Capital Inc. grew its stake in shares of The PNC Financial Services Group by 11.7% during the fourth 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 last quarter. Telos Capital Management Inc. increased its stake in shares of The PNC Financial Services Group by 6.5% during the fourth quarter. Telos Capital Management Inc. now owns 36,097 shares of the financial services provider’s stock valued at $5,590,000 after buying an additional 2,206 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of The PNC Financial Services Group by 39.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 166,262 shares of the financial services provider’s stock valued at $25,746,000 after acquiring an additional 47,381 shares in the last quarter. Everence Capital Management Inc. lifted its stake in The PNC Financial Services Group by 21.8% in the fourth quarter. Everence Capital Management Inc. now owns 13,561 shares of the financial services provider’s stock worth $2,100,000 after acquiring an additional 2,430 shares during the period. Finally, Emfo LLC lifted its stake in The PNC Financial Services Group by 59.1% in the fourth quarter. Emfo LLC now owns 2,705 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 1,005 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $147.22 on Thursday. The firm has a market capitalization of $58.57 billion, a P/E ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average price of $151.80 and a 200 day moving average price of $141.68.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the company posted $3.98 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared 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 is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Jefferies Financial Group reduced their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday. UBS Group upped their target price on 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. Bank of America lifted their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Evercore ISI decreased their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday. Three investment 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. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $156.63.

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.