IFC Advisors LLC Purchases Shares of 1,298 The PNC Financial Services Group, Inc (NYSE:PNC)

IFC Advisors LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,298 shares of the financial services provider's stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PNC. SteelPeak Wealth LLC increased its position in shares of The PNC Financial Services Group by 34.7% during the first quarter. SteelPeak Wealth LLC now owns 21,297 shares of the financial services provider's stock worth $3,743,000 after purchasing an additional 5,489 shares in the last quarter. Xponance Inc. grew its holdings in shares of The PNC Financial Services Group by 0.7% during the 1st quarter. Xponance Inc. now owns 55,688 shares of the financial services provider's stock worth $9,788,000 after purchasing an additional 377 shares during the period. Fidelis Capital Partners LLC grew its holdings in shares of The PNC Financial Services Group by 40.0% during the 1st quarter. Fidelis Capital Partners LLC now owns 7,401 shares of the financial services provider's stock worth $1,301,000 after purchasing an additional 2,114 shares during the period. CFC Planning Co LLC lifted its stake in The PNC Financial Services Group by 15.8% during the 1st quarter. CFC Planning Co LLC now owns 14,923 shares of the financial services provider's stock worth $2,623,000 after acquiring an additional 2,032 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in The PNC Financial Services Group by 6.3% during the 1st quarter. Cerity Partners LLC now owns 130,126 shares of the financial services provider's stock worth $22,872,000 after acquiring an additional 7,677 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the business'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 completion of the sale, the executive vice president owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff purchased 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the transaction, the director owned 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 9,545 shares of company stock worth $1,590,080. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 0.5%

PNC opened at $196.98 on Friday. The business's fifty day moving average is $179.40 and its two-hundred day moving average is $180.14. 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 company has a market cap of $77.92 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.66 and a beta of 1.07. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.50 billion. Analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. The PNC Financial Services Group's payout ratio is 48.02%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of analyst reports. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Royal Bank Of Canada cut their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Barclays dropped their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, Morgan Stanley lowered their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.11.

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.

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