Financiere des Professionnels Fonds d investissement inc. Purchases 5,133 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Financiere des Professionnels Fonds d investissement inc. increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 61.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors and hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. REAP Financial Group LLC lifted its position in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after buying an additional 80 shares during the last quarter. Hoey Investments Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $39,000. True Wealth Design LLC lifted its position in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after buying an additional 59 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth $35,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 0.1%

Shares of The PNC Financial Services Group stock traded down $0.22 on Monday, hitting $196.35. 3,795,947 shares of the company's stock traded hands, compared to its average volume of 2,120,652. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average of $175.83 and a two-hundred day moving average of $179.91. The company has a market capitalization of $77.67 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.46%. The PNC Financial Services Group's payout ratio is currently 45.20%.

Insider Transactions at The PNC Financial Services Group

In related 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 sale, the executive vice president owned 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $179.14, for a total value of $222,491.88. Following the transaction, the chief executive officer owned 556,121 shares in the company, valued at approximately $99,623,515.94. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,787 shares of company stock valued at $1,782,794 over the last ninety days. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Citigroup lowered their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $206.35.

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.