First Horizon Advisors Inc. Purchases 40,738 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

First Horizon Advisors Inc. lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 216.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,549 shares of the financial services provider's stock after purchasing an additional 40,738 shares during the quarter. First Horizon Advisors Inc.'s holdings in The PNC Financial Services Group were worth $10,467,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PNC. Novem Group increased its position in shares of The PNC Financial Services Group by 2.6% during the first quarter. Novem Group now owns 19,093 shares of the financial services provider's stock worth $3,356,000 after acquiring an additional 489 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of The PNC Financial Services Group by 4.2% during the first quarter. Private Trust Co. NA now owns 10,552 shares of the financial services provider's stock valued at $1,855,000 after buying an additional 430 shares during the last quarter. Rossby Financial LCC bought a new stake in The PNC Financial Services Group during the first quarter worth approximately $337,000. Yukon Wealth Management Inc. bought a new position in shares of The PNC Financial Services Group in the first quarter valued at $571,000. Finally, DAVENPORT & Co LLC grew its position in The PNC Financial Services Group by 5.0% during the 1st quarter. DAVENPORT & Co LLC now owns 33,741 shares of the financial services provider's stock worth $5,931,000 after purchasing an additional 1,616 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $166.79, for a total value of $207,153.18. Following the sale, the chief executive officer owned 557,363 shares in the company, valued at approximately $92,962,574.77. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction dated Monday, May 12th. The stock was 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 in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,428 shares of company stock valued at $1,882,322 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Down 0.3%

The PNC Financial Services Group stock traded down $0.61 during trading on Thursday, reaching $195.10. The company had a trading volume of 1,863,484 shares, compared to its average volume of 2,109,370. The firm has a market capitalization of $77.18 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The stock's 50 day moving average price is $174.39 and its two-hundred day moving average price is $180.13.

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 for the quarter, topping the consensus estimate 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. As a group, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

PNC has been the subject of a number of recent research reports. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $206.00 to $202.00 in a report on Monday, March 31st. JPMorgan Chase & Co. cut their price objective 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 report on Thursday, April 3rd. The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Royal Bank Of Canada lowered their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $204.00.

About The PNC Financial Services Group

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.