Adams Diversified Equity Fund Inc. Cuts Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Adams Diversified Equity Fund Inc. lowered its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 56.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,200 shares of the financial services provider's stock after selling 71,500 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in The PNC Financial Services Group were worth $9,878,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $33,000. REAP Financial Group LLC grew its holdings in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $39,000. Finally, True Wealth Design LLC grew its holdings in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PNC shares. 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. Wells Fargo & Company dropped their price objective 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. Keefe, Bruyette & Woods decreased their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note 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 note on Wednesday, April 16th. Finally, Citigroup decreased their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price of $202.67.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total value of $96,160.00. Following the transaction, the chief executive officer now directly owns 563,573 shares of the company's stock, valued at $90,171,680. The trade was a 0.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the business's stock in a transaction dated 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 directly owns 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 11,428 shares of company stock worth $1,882,322. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 0.2%

Shares of NYSE:PNC traded up $0.41 during trading on Friday, hitting $185.92. 2,772,359 shares of the company were exchanged, compared to its average volume of 2,093,324. The stock has a market capitalization of $73.55 billion, a P/E ratio of 13.13, a PEG ratio of 1.56 and a beta of 1.06. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The firm's 50 day moving average price is $172.14 and its 200-day moving average price is $180.35.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders 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 annualized dividend and a dividend yield of 3.44%. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

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.