Wellington Management Group LLP Has $70.86 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wellington Management Group LLP lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 81.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 367,441 shares of the financial services provider’s stock after selling 1,647,241 shares during the quarter. Wellington Management Group LLP’s holdings in The PNC Financial Services Group were worth $70,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $541,000. AssuredPartners Investment Advisors LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $739,000. Premier Fund Managers Ltd boosted its stake in The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after purchasing an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after purchasing an additional 8,081 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 5.2 %

Shares of NYSE PNC opened at $152.85 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 stock has a market capitalization of $60.49 billion, a PE ratio of 11.12, a P/E/G ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The business’s fifty day moving average price is $184.93 and its 200-day moving average price is $191.66.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business earned $3.16 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.19%. The PNC Financial Services Group’s payout ratio is 46.55%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PNC shares. Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Finally, HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $205.18.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $174.78, for a total transaction of $217,076.76. Following the sale, the chief executive officer now directly owns 564,815 shares in the company, valued at approximately $98,718,365.70. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 12,420 shares of company stock worth $2,320,739 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

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.