The PNC Financial Services Group, Inc (NYSE:PNC) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 6.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,126 shares of the financial services provider's stock after purchasing an additional 7,677 shares during the quarter. Cerity Partners LLC's holdings in The PNC Financial Services Group were worth $22,872,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. DMC Group LLC lifted its position in shares of The PNC Financial Services Group by 5.4% during the first quarter. DMC Group LLC now owns 3,580 shares of the financial services provider's stock worth $629,000 after purchasing an additional 182 shares in the last quarter. Code Waechter LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth about $399,000. MainStreet Investment Advisors LLC lifted its position in shares of The PNC Financial Services Group by 63.8% during the first quarter. MainStreet Investment Advisors LLC now owns 2,882 shares of the financial services provider's stock worth $507,000 after purchasing an additional 1,122 shares in the last quarter. Rogco LP acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth about $429,000. Finally, Leavell Investment Management Inc. lifted its position in shares of The PNC Financial Services Group by 9.3% during the first quarter. Leavell Investment Management Inc. now owns 2,670 shares of the financial services provider's stock worth $469,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 0.5%

The PNC Financial Services Group stock traded down $0.97 during mid-day trading on Friday, hitting $196.98. The company had a trading volume of 2,642,903 shares, compared to its average volume of 2,143,363. The stock 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, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. 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 business has a fifty day moving average of $179.40 and a 200 day moving average of $180.14.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced 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 business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. On average, sell-side 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 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 is Tuesday, July 15th. This is a positive change 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 48.02%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average price 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 approximately $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 9,545 shares of company stock worth $1,590,080. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. JPMorgan Chase & Co. cut their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. TD Cowen assumed coverage on shares of 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. Citigroup cut their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Finally, Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. One investment 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.11.

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.