Sowell Financial Services LLC Acquires New Shares in The PNC Financial Services Group, Inc (NYSE:PNC)

Sowell Financial Services LLC acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,312 shares of the financial services provider's stock, valued at approximately $582,000.

A number of other institutional investors also recently modified their holdings of the stock. Transcend Capital Advisors LLC increased its stake in The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after purchasing an additional 55 shares in the last quarter. Quadrant Capital Group LLC increased its position in The PNC Financial Services Group by 0.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock valued at $1,288,000 after buying an additional 59 shares in the last quarter. True Wealth Design LLC raised its stake in 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 worth $39,000 after buying an additional 59 shares during the period. Dynasty Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 4.5% in the fourth quarter. Dynasty Wealth Management LLC now owns 1,477 shares of the financial services provider's stock worth $285,000 after acquiring an additional 64 shares in the last quarter. Finally, Metis Global Partners LLC boosted its holdings in The PNC Financial Services Group by 0.4% in the fourth quarter. Metis Global Partners LLC now owns 18,585 shares of the financial services provider's stock worth $3,584,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of PNC traded up $2.34 on Friday, reaching $177.61. 5,430,681 shares of the company's stock traded hands, compared to its average volume of 2,080,362. The stock's 50 day simple moving average is $169.10 and its two-hundred day simple moving average is $181.16. The stock has a market cap of $70.26 billion, a PE ratio of 12.54, a PEG ratio of 1.47 and a beta of 1.06. 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 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. On average, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

Analyst Ratings Changes

PNC has been the topic of a number of research reports. Royal Bank Of Canada lowered their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Citigroup lowered 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 report on Monday, March 24th. 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. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Truist Financial lowered their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $202.67.

Insider Activity

In other news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $179.14, for a total value of $222,491.88. Following the completion of the sale, the chief executive officer now directly owns 556,121 shares of the company's stock, valued at approximately $99,623,515.94. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,670 shares of company stock valued at $2,099,398 in the last three months. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Company 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.