The PNC Financial Services Group, Inc (NYSE:PNC) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 4.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,855 shares of the financial services provider’s stock after acquiring an additional 284 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,205,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. REAP Financial Group LLC raised its stake in shares of The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Hoey Investments Inc. acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $39,000. True Wealth Design LLC raised its stake in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 59 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $35,000. Finally, OFI Invest Asset Management acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $198.22 on Wednesday. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The stock has a market cap of $78.41 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The company has a 50-day moving average price of $177.31 and a two-hundred day moving average price of $180.07.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping 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 firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

Analysts Set New Price Targets

PNC has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Citigroup dropped their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Finally, 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 on the stock in a research note on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $207.11.

Insider Activity

In related news, Director Martin Pfinsgraff acquired 1,000 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, the director directly owned 2,009 shares of the company’s stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer owned 554,879 shares of the company’s stock, valued at $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,186 shares of company stock worth $1,686,634 over the last three months. Corporate insiders own 0.41% of the company’s stock.

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.