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

Capital Investment Advisory Services LLC purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,485 shares of the financial services provider's stock, valued at approximately $437,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $299,864,000. GAMMA Investing LLC grew its holdings in shares of The PNC Financial Services Group by 19,279.5% in 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 purchasing an additional 1,143,079 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of The PNC Financial Services Group by 166.1% in 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 purchasing an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of 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. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

PNC stock traded down $1.71 on Wednesday, hitting $196.29. The company's stock had a trading volume of 3,730,485 shares, compared to its average volume of 2,140,819. The firm has a 50 day moving average of $178.02 and a two-hundred day moving average of $180.18. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market cap of $77.65 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08.

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 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Equities analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal 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 $1.70 dividend. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.46%. The PNC Financial Services Group's dividend payout ratio is 45.20%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PNC shares. Barclays dropped their price objective 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. Citigroup decreased their price target 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 note on Monday, March 24th. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price target for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Finally, Truist Financial lifted their price target on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $209.11.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director owned 2,009 shares of the company's stock, valued at $317,863.98. This represents a 99.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,186 shares of company stock valued at $1,686,634. 0.41% of the stock is owned by company 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.