CFC Planning Co LLC Increases Position in The PNC Financial Services Group, Inc (NYSE:PNC)

CFC Planning Co LLC lifted its holdings 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 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,923 shares of the financial services provider's stock after purchasing an additional 2,032 shares during the period. The PNC Financial Services Group comprises about 2.9% of CFC Planning Co LLC's portfolio, 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 quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $299,864,000. GAMMA Investing LLC raised its position in 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 during the period. Schroder Investment Management Group grew its stake 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 worth $265,436,000 after purchasing an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake 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 worth $1,453,763,000 after purchasing an additional 726,115 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on PNC shares. Citigroup decreased their price objective 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. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Tuesday. Royal Bank Of Canada dropped their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Morgan Stanley lowered their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $209.11.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 554,879 shares of the company's stock, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 9,545 shares of company stock worth $1,590,080. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 1.1%

NYSE PNC opened at $198.21 on Friday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The business's fifty day moving average is $178.77 and its 200-day moving average is $180.21. The stock has a market capitalization of $78.41 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick 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 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be issued a $1.70 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 3.43%. The PNC Financial Services Group's payout ratio is 45.20%.

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.

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