1,330 Shares in The PNC Financial Services Group, Inc (NYSE:PNC) Acquired by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft has invested $233,000 in The PNC Financial Services Group, acquiring 1,330 shares during the first quarter.
• Several institutional investors have increased their stakes in PNC, with Arkadios Wealth Advisors raising its stake by 32.1%.
• The PNC Financial Services Group will pay a quarterly dividend of $1.70 per share, representing a yield of 3.6%, up from the previous dividend of $1.60.

Baader Bank Aktiengesellschaft purchased 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 13F filing with the Securities & Exchange Commission. The fund purchased 1,330 shares of the financial services provider's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNC. Ignite Planners LLC boosted its holdings in The PNC Financial Services Group by 8.4% in the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider's stock worth $262,000 after purchasing an additional 126 shares during the period. Exane Asset Management lifted its stake in The PNC Financial Services Group by 32.9% in the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock valued at $28,434,000 after buying an additional 37,110 shares during the last quarter. Smith Salley Wealth Management lifted its stake in The PNC Financial Services Group by 15.6% in the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider's stock valued at $12,804,000 after buying an additional 9,836 shares during the last quarter. United Community Bank lifted its stake in The PNC Financial Services Group by 687.0% in the first quarter. United Community Bank now owns 12,325 shares of the financial services provider's stock valued at $2,166,000 after buying an additional 10,759 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 4.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock valued at $493,000 after buying an additional 120 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PNC shares. Bank of America raised their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Finally, Citigroup boosted their price target on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and an average price target of $214.17.

Insider Activity at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer directly owned 554,879 shares of the company's stock, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,218 shares of company stock valued at $900,918. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Down 2.4%

NYSE:PNC traded down $4.49 on Friday, hitting $185.78. 2,639,255 shares of the company's stock traded hands, compared to its average volume of 2,465,934. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. 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 50-day moving average price of $185.92 and a 200-day moving average price of $180.17. The company has a market cap of $73.49 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The company had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter in the previous year, the business posted $3.39 EPS. The business's revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

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.