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Bridgewater Advisors Inc. Takes $363,000 Position in The PNC Financial Services Group, Inc (NYSE:PNC)

The PNC Financial Services Group logo with Finance background

Bridgewater Advisors Inc. bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,262 shares of the financial services provider's stock, valued at approximately $363,000.

Several other institutional investors also recently bought and sold shares of PNC. Larson Financial Group LLC increased its stake in The PNC Financial Services Group by 8.1% in the 1st quarter. Larson Financial Group LLC now owns 16,198 shares of the financial services provider's stock valued at $2,847,000 after buying an additional 1,212 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in The PNC Financial Services Group by 30.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 97,157 shares of the financial services provider's stock valued at $17,077,000 after buying an additional 22,634 shares during the period. Whittier Trust Co. increased its stake in The PNC Financial Services Group by 26.9% in the 1st quarter. Whittier Trust Co. now owns 204,318 shares of the financial services provider's stock valued at $35,912,000 after buying an additional 43,321 shares during the period. United Community Bank increased its stake in The PNC Financial Services Group by 687.0% in the 1st 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 period. Finally, Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock valued at $1,670,249,000 after buying an additional 1,964,157 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The stock was 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 owned 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 9,545 shares of company stock worth $1,590,080. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $0.55 on Friday, hitting $196.54. The company's stock had a trading volume of 2,548,240 shares, compared to its average volume of 2,450,617. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average price of $181.79 and a 200-day moving average price of $180.27. The company has a market capitalization of $77.75 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.39 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.46%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is 48.02%.

Analysts Set New Price Targets

Several equities analysts have issued reports on PNC shares. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research note on Thursday. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. TD Cowen began coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 target price on the stock. Citigroup boosted their target price 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. Finally, Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.76.

View Our Latest Report on PNC

About The PNC Financial Services Group

(Free Report)

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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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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