Fidelis Capital Partners LLC Raises Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Fidelis Capital Partners LLC raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 40.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,401 shares of the financial services provider's stock after acquiring an additional 2,114 shares during the quarter. Fidelis Capital Partners LLC's holdings in The PNC Financial Services Group were worth $1,301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in The PNC Financial Services Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after acquiring an additional 268,827 shares in the last quarter. Franklin Resources Inc. boosted its stake in The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after acquiring an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in 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 acquiring an additional 726,115 shares in the last quarter. Norges Bank bought a new position in The PNC Financial Services Group during the fourth quarter worth $1,352,151,000. Finally, Northern Trust Corp boosted its stake in The PNC Financial Services Group by 14.9% during the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after acquiring an additional 608,375 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNC. JPMorgan Chase & Co. cut their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their price objective for the company from $185.00 to $212.00 in a research note on Wednesday. Barclays dropped their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, 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, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was bought 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 in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders sold 9,545 shares of company stock worth $1,590,080 over the last quarter. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $0.97 during trading hours on Friday, reaching $196.98. 2,642,903 shares of the company were exchanged, compared to its average volume of 2,144,533. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The business's 50 day simple moving average is $179.40 and its 200-day simple moving average is $180.23. 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 stock has a market capitalization of $77.92 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.67 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, equities research analysts expect 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders 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 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 presently 45.20%.

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.