Capital Investment Advisory Services LLC Buys Shares of 2,485 The PNC Financial Services Group, Inc (NYSE:PNC)

Capital Investment Advisory Services LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,485 shares of the financial services provider's stock, valued at approximately $437,000.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of The PNC Financial Services Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after acquiring an additional 268,827 shares in the last quarter. Franklin Resources Inc. grew its position in The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock valued at $2,089,622,000 after purchasing an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in The PNC Financial Services Group by 10.7% in 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 purchasing an additional 726,115 shares in the last quarter. Norges Bank bought a new position in The PNC Financial Services Group in the fourth quarter valued at $1,352,151,000. Finally, Northern Trust Corp grew its position in The PNC Financial Services Group by 14.9% in the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after purchasing an additional 608,375 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded down $0.22 during mid-day trading on Monday, reaching $196.35. 3,795,947 shares of the company were exchanged, compared to its average volume of 2,120,651. The company's 50-day simple moving average is $175.83 and its 200-day simple moving average is $179.91. 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 stock has a market capitalization of $77.67 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.66 and a beta of 1.07. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. As a group, research analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be given a dividend of $1.70 per share. 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 of this dividend is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Insider Buying and Selling

In related news, 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 transaction, the executive vice president directly owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Pfinsgraff purchased 1,000 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 10,787 shares of company stock valued at $1,782,794. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their target price for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Citigroup decreased their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Truist Financial cut their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Finally, TD Cowen began coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average target price of $206.35.

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.