CFC Planning Co LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,923 shares of the financial services provider's stock after acquiring an additional 2,032 shares during the period. The PNC Financial Services Group comprises approximately 2.9% of CFC Planning Co LLC's holdings, making the stock its 12th largest holding. CFC Planning Co LLC's holdings in The PNC Financial Services Group were worth $2,623,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of PNC. Cornerstone Planning Group LLC raised its holdings in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 65 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at $35,000. REAP Financial Group LLC increased its holdings in The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Hoey Investments Inc. acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $39,000. Finally, True Wealth Design LLC increased its holdings in The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 59 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.
The PNC Financial Services Group Trading Down 0.5%
PNC stock traded down $0.97 during midday trading on Friday, hitting $196.98. 2,642,903 shares of the company's stock were exchanged, compared to its average volume of 2,144,533. The stock's fifty day moving average price is $179.40 and its 200-day moving average price is $180.23. 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 company has a market cap of $77.92 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.67 and a beta of 1.07. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.
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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. Research analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be paid 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 dividend yield of 3.45%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on PNC shares. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Barclays decreased their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada decreased their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.11.
Get Our Latest Research Report on The PNC Financial Services Group
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 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 sale, the chief executive officer owned 554,879 shares of the company's stock, valued at $94,190,710.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director owned 2,009 shares of the company's stock, valued at $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 9,545 shares of company stock valued at $1,590,080 in the last 90 days. 0.41% of the stock is currently owned by company insiders.
The PNC Financial Services Group Profile
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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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