The PNC Financial Services Group, Inc (NYSE:PNC) Shares Purchased by Community Financial Services Group LLC

Community Financial Services Group LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 8.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,135 shares of the financial services provider’s stock after purchasing an additional 2,776 shares during the period. The PNC Financial Services Group accounts for about 1.4% of Community Financial Services Group LLC’s holdings, making the stock its 24th biggest holding. Community Financial Services Group LLC’s holdings in The PNC Financial Services Group were worth $6,527,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. AssuredPartners Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 10.3% during the first quarter. AssuredPartners Investment Advisors LLC now owns 4,226 shares of the financial services provider’s stock valued at $743,000 after acquiring an additional 396 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of The PNC Financial Services Group by 6.2% during the first quarter. Asset Management One Co. Ltd. now owns 168,356 shares of the financial services provider’s stock valued at $29,592,000 after acquiring an additional 9,842 shares during the last quarter. GHP Investment Advisors Inc. increased its position in shares of The PNC Financial Services Group by 2.7% during the first quarter. GHP Investment Advisors Inc. now owns 13,200 shares of the financial services provider’s stock valued at $2,320,000 after acquiring an additional 344 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of The PNC Financial Services Group by 68.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 39,269 shares of the financial services provider’s stock valued at $6,902,000 after acquiring an additional 15,923 shares during the last quarter. Finally, Continuum Advisory LLC increased its position in shares of The PNC Financial Services Group by 54.6% during the first quarter. Continuum Advisory LLC now owns 1,606 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 567 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $150.50, for a total value of $96,470.50. Following the completion of the transaction, the chief executive officer now owns 562,291 shares in the company, valued at approximately $84,624,795.50. This represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,670 shares of company stock worth $2,099,398. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a “buy” rating and a $233.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. The Goldman Sachs Group dropped their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Barclays dropped their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Citigroup dropped their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.67.

The PNC Financial Services Group Trading Up 1.9%

NYSE PNC opened at $180.83 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The stock has a market capitalization of $71.53 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The firm has a 50 day moving average of $169.62 and a two-hundred day moving average of $180.58.

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 (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. As a group, research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

The PNC Financial Services Group 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.