Bogart Wealth LLC Purchases 8,222 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Bogart Wealth LLC raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,900 shares of the financial services provider's stock after acquiring an additional 8,222 shares during the quarter. Bogart Wealth LLC's holdings in The PNC Financial Services Group were worth $11,232,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Signaturefd LLC boosted its position in The PNC Financial Services Group by 1.2% during the 1st quarter. Signaturefd LLC now owns 7,189 shares of the financial services provider's stock valued at $1,264,000 after acquiring an additional 82 shares in the last quarter. Edgestream Partners L.P. boosted its position in shares of The PNC Financial Services Group by 1,503.3% in the 1st quarter. Edgestream Partners L.P. now owns 52,090 shares of the financial services provider's stock worth $9,156,000 after purchasing an additional 48,841 shares in the last quarter. Florida Financial Advisors LLC boosted its position in shares of The PNC Financial Services Group by 8.5% in the 1st quarter. Florida Financial Advisors LLC now owns 2,036 shares of the financial services provider's stock worth $358,000 after purchasing an additional 159 shares in the last quarter. MQS Management LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth approximately $635,000. Finally, CWM LLC boosted its position in shares of The PNC Financial Services Group by 50.4% in the 1st quarter. CWM LLC now owns 23,676 shares of the financial services provider's stock worth $4,162,000 after purchasing an additional 7,931 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $196.98 on Monday. 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 stock's fifty day moving average price is $179.40 and its 200 day moving average price is $180.03. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a market cap of $77.92 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.66 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.45%. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the sale, the chief executive officer directly owned 554,879 shares in the company, valued at $94,190,710.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 20,490 shares in the company, 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 9,545 shares of company stock worth $1,590,080 in the last ninety days. Company insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PNC shares. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Wells Fargo & Company cut their target price on 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. TD Cowen started coverage on 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. Finally, Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $209.11.

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.

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