Financiere des Professionnels Fonds d investissement inc. Grows Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Financiere des Professionnels Fonds d investissement inc. boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 61.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,494 shares of the financial services provider's stock after buying an additional 5,133 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in The PNC Financial Services Group were worth $2,372,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PNC. Norges Bank acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at about $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at about $299,864,000. GAMMA Investing LLC boosted its stake in 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 buying an additional 1,143,079 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of The PNC Financial Services Group by 166.1% during 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of 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 valued at $1,453,763,000 after purchasing an additional 726,115 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Royal Bank Of Canada lowered their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company lowered their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Truist Financial raised their price target on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, Barclays lowered their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $209.11.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were 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. The trade was a 0.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff purchased 1,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, the director directly owned 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 10,186 shares of company stock valued at $1,686,634. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 0.9%

NYSE PNC traded down $1.71 during mid-day trading on Wednesday, hitting $196.29. The company's stock had a trading volume of 3,729,848 shares, compared to its average volume of 2,139,776. 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 firm has a market capitalization of $77.65 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.65 and a beta of 1.07. The company's 50 day simple moving average is $177.31 and its 200 day simple moving average is $180.07. 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 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 firm 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%. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a $1.70 dividend. 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 3.46%. The ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group's payout ratio is 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.