The PNC Financial Services Group, Inc (NYSE:PNC) Shares Acquired by Financial Counselors Inc.

Financial Counselors Inc. raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,708 shares of the financial services provider's stock after purchasing an additional 2,184 shares during the quarter. Financial Counselors Inc.'s holdings in The PNC Financial Services Group were worth $24,381,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $299,864,000. GAMMA Investing LLC increased its holdings in shares of 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 increased its holdings in shares of The PNC Financial Services Group by 166.1% in the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after purchasing an additional 860,554 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of The PNC Financial Services Group by 10.7% in 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 during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $179.14, for a total transaction of $222,491.88. Following the transaction, the chief executive officer owned 556,121 shares of the company's stock, valued at approximately $99,623,515.94. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director directly 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 disclosure for this purchase can be found here. Over the last three months, insiders have sold 10,787 shares of company stock valued at $1,782,794. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada cut their price target on shares of 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. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday. JPMorgan Chase & Co. decreased their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial cut their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.35.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $0.22 during trading hours on Monday, hitting $196.35. 3,795,947 shares of the company's stock were exchanged, compared to its average volume of 2,120,651. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm has a market cap of $77.67 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.66 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 of $175.83 and a two-hundred day moving average of $179.91.

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

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.46%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 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.