Asset Management One Co. Ltd. Has $29.59 Million Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Asset Management One Co. Ltd. boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,356 shares of the financial services provider's stock after acquiring an additional 9,842 shares during the quarter. Asset Management One Co. Ltd.'s holdings in The PNC Financial Services Group were worth $29,592,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after purchasing an additional 984 shares in the last quarter. Wealthspire Advisors LLC grew its stake in shares of The PNC Financial Services Group by 5.3% during the fourth quarter. Wealthspire Advisors LLC now owns 6,639 shares of the financial services provider's stock worth $1,280,000 after buying an additional 337 shares during the last quarter. Howard Capital Management Inc. grew its stake in shares of The PNC Financial Services Group by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 2,670 shares of the financial services provider's stock worth $515,000 after buying an additional 135 shares during the last quarter. Colonial River Investments LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $249,000. Finally, IFP Advisors Inc grew its stake in shares of The PNC Financial Services Group by 14.7% during the fourth quarter. IFP Advisors Inc now owns 4,664 shares of the financial services provider's stock worth $900,000 after buying an additional 597 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff acquired 1,000 shares of the company's stock in a transaction dated Friday, April 25th. The shares were purchased at an average price 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 approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $179.14, for a total transaction of $222,491.88. Following the transaction, the chief executive officer now owns 556,121 shares in the company, valued at $99,623,515.94. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,670 shares of company stock worth $2,099,398 over the last quarter. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research note 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 research note on Monday, March 24th. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They set a "buy" rating and a $233.00 target price on the stock. Royal Bank Of Canada decreased their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Trading Up 1.8%

PNC stock traded up $3.30 during midday trading on Thursday, hitting $185.81. The stock had a trading volume of 2,843,398 shares, compared to its average volume of 2,085,296. The firm has a market cap of $73.50 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. 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, 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 price of $170.79 and a two-hundred day moving average price of $180.61.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released 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 business had revenue of $5.45 billion for the quarter, compared to analyst estimates 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, sell-side 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 company also recently announced 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 was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.44%. The PNC Financial Services Group's payout ratio is 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.