2,269 Shares in The PNC Financial Services Group, Inc (NYSE:PNC) Acquired by Code Waechter LLC

Code Waechter LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,269 shares of the financial services provider's stock, valued at approximately $399,000.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Cornerstone Planning Group LLC lifted its holdings in 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 valued at $34,000 after purchasing an additional 65 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at $35,000. REAP Financial Group LLC lifted its holdings in The PNC Financial Services Group by 67.2% in 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. purchased a new position in The PNC Financial Services Group in the 4th quarter valued at $39,000. Finally, True Wealth Design LLC lifted its holdings in The PNC Financial Services Group by 41.5% in 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. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNC. Barclays reduced their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Royal Bank Of Canada reduced their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target on the stock. Finally, Citigroup reduced their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $209.11.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president directly owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's 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 transaction, the chief executive officer directly owned 554,879 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 10,186 shares of company stock valued at $1,686,634. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Up 1.1%

NYSE PNC traded up $2.07 during trading on Thursday, hitting $198.21. The stock had a trading volume of 3,802,762 shares, compared to its average volume of 2,147,158. The company has a market capitalization of $78.41 billion, a PE ratio of 14.00, a PEG ratio of 1.65 and a beta of 1.07. 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 firm has a 50 day moving average price of $178.02 and a 200 day moving average price of $180.18. 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 released its earnings results 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 company 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%. As a group, equities research analysts forecast 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 business also recently disclosed 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 an increase 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 3.43%. The PNC Financial Services Group's payout ratio is currently 45.20%.

The PNC Financial Services Group 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.