The PNC Financial Services Group, Inc (NYSE:PNC) Shares Bought by Altman Advisors Inc.

Altman Advisors Inc. boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,810 shares of the financial services provider’s stock after purchasing an additional 281 shares during the period. Altman Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,737,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PNC. Cornerstone Planning Group LLC grew its position 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 valued at $34,000 after acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at about $35,000. REAP Financial Group LLC grew its position in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Hoey Investments Inc. acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $39,000. Finally, True Wealth Design LLC grew its position in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 59 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 2.7%

Shares of NYSE PNC opened at $192.14 on Wednesday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm’s 50 day moving average price is $180.60 and its 200 day moving average price is $180.15. The firm has a market cap of $76.00 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating analysts’ consensus estimates of $3.59 by $0.26. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. As a group, sell-side analysts anticipate 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 business 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.54%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s payout ratio is presently 48.02%.

Insider Transactions at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director directly owned 2,009 shares of the company’s stock, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s 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 sale, the chief executive officer owned 554,879 shares in the company, valued at $94,190,710.25. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,545 shares of company stock valued at $1,590,080. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their target price for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. Truist Financial raised their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a “hold” rating in a research report on Wednesday, July 9th. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Royal Bank Of Canada decreased their price target 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. Finally, TD Cowen started coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a “buy” rating and a $233.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.11.

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.