Deroy & Devereaux Private Investment Counsel Inc. lowered its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 137,866 shares of the financial services provider's stock after selling 1,357 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in The PNC Financial Services Group were worth $24,233,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. IFM Investors Pty Ltd lifted its holdings in The PNC Financial Services Group by 9.1% in the 1st quarter. IFM Investors Pty Ltd now owns 82,213 shares of the financial services provider's stock worth $15,197,000 after buying an additional 6,891 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 24.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 8,240 shares of the financial services provider's stock valued at $1,448,000 after purchasing an additional 1,616 shares during the period. Avantax Planning Partners Inc. lifted its stake in shares of The PNC Financial Services Group by 3.4% in the 1st quarter. Avantax Planning Partners Inc. now owns 2,906 shares of the financial services provider's stock valued at $511,000 after purchasing an additional 96 shares during the period. Moody Aldrich Partners LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $276,000. Finally, Conning Inc. lifted its stake in shares of The PNC Financial Services Group by 7.7% in the 1st quarter. Conning Inc. now owns 196,217 shares of the financial services provider's stock valued at $34,489,000 after purchasing an additional 13,967 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.
Insider Buying and Selling at The PNC Financial Services Group
In other news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president directly owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $179.14, for a total transaction of $222,491.88. Following the completion of the sale, the chief executive officer directly owned 556,121 shares of the company's stock, valued at $99,623,515.94. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,787 shares of company stock worth $1,782,794 over the last 90 days. Corporate insiders own 0.41% of the company's stock.
The PNC Financial Services Group Stock Performance
NYSE PNC traded down $0.61 during trading hours on Friday, hitting $195.10. The company had a trading volume of 1,863,484 shares, compared to its average volume of 2,109,370. 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 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 market cap of $77.18 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The business has a 50 day moving average of $175.83 and a 200-day moving average of $180.07.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data 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 net margin of 17.68% and a return on equity of 10.95%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. As a group, equities research analysts expect 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 disclosed 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 represents a $6.80 annualized dividend and a yield of 3.49%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.
Analyst Ratings Changes
A number of research firms have commented on PNC. Keefe, Bruyette & Woods reduced their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company lowered their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Finally, Truist Financial reduced their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.35.
Check Out Our Latest Analysis on The PNC Financial Services Group
About The PNC Financial Services Group
(
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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