Diversified Trust Co Raises Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Diversified Trust Co grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 140.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,563 shares of the financial services provider's stock after acquiring an additional 4,997 shares during the quarter. Diversified Trust Co's holdings in The PNC Financial Services Group were worth $1,505,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in The PNC Financial Services Group in the fourth quarter valued at about $1,352,151,000. Leigh Baldwin & CO. LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $299,864,000. GAMMA Investing LLC increased its position in shares of The PNC Financial Services Group by 19,279.5% during the 1st 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 last quarter. Schroder Investment Management Group lifted its stake in shares of The PNC Financial Services Group by 166.1% in the 4th 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 during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of The PNC Financial Services Group by 10.7% in the 4th 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 during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

PNC traded up $5.93 on Tuesday, hitting $192.35. 3,497,382 shares of the company's stock traded hands, compared to its average volume of 2,099,799. The firm has a market cap of $76.09 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.57 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company's 50 day simple moving average is $172.87 and its 200-day simple moving average is $179.93.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.33%. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research reports. Truist Financial reduced their target price on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Barclays lowered their target price 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. Finally, Keefe, Bruyette & Woods reduced their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average price target of $202.67.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 554,879 shares of the company's stock, valued at $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president owned 20,490 shares of the company's stock, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,428 shares of company stock worth $1,882,322. Corporate insiders own 0.41% of the company's stock.

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.