Smithbridge Asset Management Inc. DE Purchases Shares of 5,100 The PNC Financial Services Group, Inc. (NYSE:PNC)

Smithbridge Asset Management Inc. DE acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,100 shares of the financial services provider's stock, valued at approximately $896,000.

A number of other large investors have also recently made changes to their positions in the stock. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Whipplewood Advisors LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $33,000. REAP Financial Group LLC lifted its stake in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after buying an additional 80 shares in the last quarter. Hoey Investments Inc. purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $39,000. Finally, True Wealth Design LLC raised its holdings in The PNC Financial Services Group by 41.5% in 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 last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $174.78, for a total value of $217,076.76. Following the transaction, the chief executive officer now owns 564,815 shares of the company's stock, valued at $98,718,365.70. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the executive vice president now directly owns 20,490 shares of the company's stock, valued at $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 have sold 13,912 shares of company stock valued at $2,313,022 in the last quarter. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNC. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. 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 for the company in a research report on Wednesday, April 16th. 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 on the stock in a research note on Friday, March 28th. 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. Finally, Barclays dropped their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group Trading Down 2.6%

Shares of The PNC Financial Services Group stock traded down $4.56 during trading hours on Friday, hitting $173.18. The company's stock had a trading volume of 1,727,076 shares, compared to its average volume of 2,058,996. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The business has a fifty day moving average of $166.56 and a 200 day moving average of $182.74. The company has a market capitalization of $68.50 billion, a PE ratio of 12.59, 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 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

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.