GSA Capital Partners LLP Has $1.01 Million Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Key Points

• GSA Capital Partners LLP increased its stake in The PNC Financial Services Group by 134.7% in the 1st quarter, owning a total of 5,737 shares worth approximately $1,008,000.
• The PNC Financial Services Group announced a dividend increase from $1.60 to $1.70 per share, representing a 3.6% yield, with the next payment scheduled for August 5th.
• Analysts have diverse ratings for PNC, with 11 ratings of "buy", 8 of "hold", one "sell", and a consensus price target of $214.17.

GSA Capital Partners LLP boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 134.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,737 shares of the financial services provider's stock after buying an additional 3,293 shares during the quarter. GSA Capital Partners LLP's holdings in The PNC Financial Services Group were worth $1,008,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Quadrant Capital Group LLC increased its position in shares of The PNC Financial Services Group by 0.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock worth $1,288,000 after purchasing an additional 59 shares during the last quarter. True Wealth Design LLC increased its position in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after purchasing an additional 59 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 65 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 3.9% in the 4th quarter. KCM Investment Advisors LLC now owns 1,828 shares of the financial services provider's stock valued at $353,000 after buying an additional 68 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of The PNC Financial Services Group by 2.2% in the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock valued at $573,000 after buying an additional 69 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNC has been the subject of several research reports. Barclays decreased 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. Bank of America lifted their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a report on Thursday, July 17th. 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 target for the company in a report on Tuesday, July 8th. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada decreased 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $214.17.

Insider Activity 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 on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president directly owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,218 shares of company stock valued at $900,918 over the last three months. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Down 2.4%

PNC traded down $4.49 on Friday, reaching $185.78. 2,639,255 shares of the company traded hands, compared to its average volume of 2,465,934. The stock's 50 day moving average price is $185.92 and its 200-day moving average price is $180.31. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a market cap of $73.49 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.38 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.39 earnings per share. On average, sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be given a $1.70 dividend. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, July 15th. The PNC Financial Services Group's payout ratio is presently 46.51%.

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.