The PNC Financial Services Group, Inc (NYSE:PNC) Shares Purchased by BLB&B Advisors LLC

BLB&B Advisors LLC grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 36.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 22,431 shares of the financial services provider's stock after acquiring an additional 5,958 shares during the quarter. BLB&B Advisors LLC's holdings in The PNC Financial Services Group were worth $3,943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mechanics Financial Corp purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $541,000. AssuredPartners Investment Advisors LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $739,000. Premier Fund Managers Ltd increased its position in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock worth $9,511,000 after buying an additional 13,700 shares during the period. PKS Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $357,000. Finally, Kingswood Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 3.2%

Shares of PNC stock traded up $5.93 during mid-day trading on Tuesday, reaching $192.35. The company's stock had a trading volume of 3,497,382 shares, compared to its average volume of 2,097,742. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $76.09 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. The company's 50 day simple moving average is $172.87 and its 200-day simple moving average is $179.93. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. On average, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal 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 paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Barclays reduced their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods reduced their price objective on 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. Finally, Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.

Insider Activity

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $158.22 per share, with a total value of $158,220.00. Following the acquisition, the director owned 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president owned 20,490 shares of the company's stock, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,428 shares of company stock valued at $1,882,322. Company insiders own 0.41% of the company's stock.

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.