Brown Advisory Inc. Reduces Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Brown Advisory Inc. decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,821 shares of the financial services provider's stock after selling 3,316 shares during the period. Brown Advisory Inc.'s holdings in The PNC Financial Services Group were worth $14,206,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $1,352,151,000. Leigh Baldwin & CO. LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $299,864,000. GAMMA Investing LLC increased its holdings in shares of The PNC Financial Services Group by 19,279.5% during the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after acquiring an additional 1,143,079 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after acquiring an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after buying an additional 726,115 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PNC shares. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Morgan Stanley decreased their price objective on 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. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their target price for the stock from $185.00 to $212.00 in a research note on Wednesday. Finally, Barclays cut their price objective on 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $209.11.

The PNC Financial Services Group Trading Down 0.5%

PNC stock traded down $0.97 on Friday, reaching $196.98. The company's stock had a trading volume of 2,642,903 shares, compared to its average volume of 2,143,363. The business has a fifty day simple moving average of $179.40 and a two-hundred day simple moving average of $180.14. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The firm has a market cap of $77.92 billion, a PE ratio of 13.91, a PEG ratio of 1.66 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates 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, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, July 15th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.45%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 48.02%.

Insider Activity

In other news, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction on Monday, May 12th. The stock was 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 trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 23rd. The stock was 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 owned 554,879 shares of the company's stock, valued at $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,545 shares of company stock worth $1,590,080 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

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.