Crestline Management LP Buys 17,743 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Crestline Management LP grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 390.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,283 shares of the financial services provider's stock after buying an additional 17,743 shares during the period. Crestline Management LP's holdings in The PNC Financial Services Group were worth $4,297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers boosted its holdings in The PNC Financial Services Group by 7.4% in the 4th quarter. Cetera Investment Advisers now owns 131,123 shares of the financial services provider's stock valued at $25,287,000 after purchasing an additional 9,068 shares during the period. Captrust Financial Advisors boosted its stake in shares of The PNC Financial Services Group by 2.0% in the fourth quarter. Captrust Financial Advisors now owns 85,341 shares of the financial services provider's stock valued at $16,458,000 after buying an additional 1,692 shares during the period. Cary Street Partners Financial LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,747,000. Baker Avenue Asset Management LP grew its position in The PNC Financial Services Group by 0.6% during the fourth quarter. Baker Avenue Asset Management LP now owns 25,921 shares of the financial services provider's stock worth $4,999,000 after buying an additional 162 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC increased its stake in The PNC Financial Services Group by 9.8% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 1,752 shares of the financial services provider's stock worth $338,000 after acquiring an additional 156 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 0.2 %

PNC traded down $0.29 during midday trading on Friday, hitting $166.44. 1,671,199 shares of the company were exchanged, compared to its average volume of 2,020,733. The firm's 50 day moving average price is $164.74 and its 200-day moving average price is $186.58. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The firm has a market capitalization of $65.84 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, equities analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.85%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction on 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 now owns 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $190.18, for a total transaction of $236,203.56. Following the transaction, the chief executive officer now owns 569,783 shares in the company, valued at $108,361,330.94. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,662 shares of company stock worth $2,322,006. Company insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PNC. Truist Financial reduced their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Citigroup decreased their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company cut their price target 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. Stephens reissued an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $200.88.

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.