Johnson Financial Group Inc. Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Johnson Financial Group Inc. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 50.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 300 shares of the financial services provider’s stock after selling 310 shares during the quarter. Johnson Financial Group Inc.’s holdings in The PNC Financial Services Group were worth $61,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. grew its holdings in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $30,000. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Keefe, Bruyette & Woods cut their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Finally, Barclays cut their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $200.88.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 13,061 shares of company stock worth $2,274,222 in the last 90 days. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $159.80 on Tuesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The business has a 50-day simple moving average of $169.06 and a two-hundred day simple moving average of $188.12. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $63.24 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.01%. The PNC Financial Services Group’s payout ratio is presently 45.20%.

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.