MainStreet Investment Advisors LLC Boosts Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

MainStreet Investment Advisors LLC grew its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 63.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,882 shares of the financial services provider’s stock after buying an additional 1,122 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Rogco LP purchased a new stake in The PNC Financial Services Group in the first quarter worth approximately $429,000. Leavell Investment Management Inc. boosted its holdings in The PNC Financial Services Group by 9.3% in the first quarter. Leavell Investment Management Inc. now owns 2,670 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 227 shares during the last quarter. Mraz Amerine & Associates Inc. boosted its holdings in The PNC Financial Services Group by 64.5% in the first quarter. Mraz Amerine & Associates Inc. now owns 2,040 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 800 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 65 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in shares of The PNC Financial Services Group by 1.0% during the 1st quarter. Greenleaf Trust now owns 12,540 shares of the financial services provider’s stock worth $2,204,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.9%

PNC stock opened at $196.29 on Thursday. The firm’s fifty day simple moving average is $178.02 and its 200-day simple moving average is $180.18. The company has a market capitalization of $77.65 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group’s dividend payout ratio is 45.20%.

Analysts Set New Price Targets

PNC has been the topic of several analyst reports. Wolfe Research reiterated a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. TD Cowen started 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 objective on the stock. Wells Fargo & Company decreased 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 report on Friday, March 28th. Finally, Morgan Stanley decreased 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 report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.11.

Insider Activity

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president owned 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This represents a 6.79% 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. Insiders own 0.41% of the company’s stock.

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.