Janney Montgomery Scott LLC Purchases 11,498 Shares of The PNC Financial Services Group, Inc $PNC

Janney Montgomery Scott LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.0% during the first quarter, Holdings Channel.com reports. The fund owned 600,866 shares of the financial services provider’s stock after purchasing an additional 11,498 shares during the quarter. Janney Montgomery Scott LLC’s holdings in The PNC Financial Services Group were worth $125,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC increased its stake in shares of The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after buying an additional 170 shares during the period. Sivia Capital Partners LLC increased its stake in shares of The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after buying an additional 1,449 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of The PNC Financial Services Group by 1.5% during the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock valued at $34,409,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $482,000. 83.53% of the stock is owned by institutional investors.

Insider Activity

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,300 shares of company stock worth $10,694,574 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.1%

NYSE:PNC opened at $245.61 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm’s 50-day moving average price is $224.53 and its 200-day moving average price is $219.12. The company has a market capitalization of $98.63 billion, a PE ratio of 14.27, a P/E/G ratio of 1.00 and a beta of 0.92. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $249.01.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period last year, the company posted $3.51 EPS. The PNC Financial Services Group’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc will post 18.81 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 2.8%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PNC shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Stephens assumed coverage on shares of The PNC Financial Services Group in a report on Monday, June 15th. They issued an “overweight” rating and a $265.00 price objective for the company. Citigroup raised their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $247.39.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.