IFM Investors Pty Ltd Buys 6,891 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

IFM Investors Pty Ltd increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,213 shares of the financial services provider's stock after buying an additional 6,891 shares during the period. IFM Investors Pty Ltd's holdings in The PNC Financial Services Group were worth $15,197,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Quadrant Capital Group LLC lifted its stake in shares of The PNC Financial Services Group by 0.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock valued at $1,288,000 after buying an additional 59 shares in the last quarter. True Wealth Design LLC increased its position in shares of The PNC Financial Services Group by 41.5% during the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after acquiring an additional 59 shares in the last quarter. Sandy Spring Bank raised its holdings in shares of The PNC Financial Services Group by 1.4% in the 4th quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider's stock worth $945,000 after acquiring an additional 67 shares during the last quarter. KCM Investment Advisors LLC lifted its position in 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 acquiring an additional 68 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in The PNC Financial Services Group by 2.2% during the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock valued at $573,000 after purchasing an additional 69 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $0.61 during midday trading on Friday, reaching $195.10. The stock had a trading volume of 1,863,484 shares, compared to its average volume of 2,109,370. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $77.18 billion, a PE ratio of 13.78, a P/E/G ratio of 1.66 and a beta of 1.07. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The firm's 50-day moving average price is $175.83 and its 200 day moving average price is $180.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share 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 given a $1.70 dividend. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.49%. The PNC Financial Services Group's payout ratio is 45.20%.

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 PNC Financial Services Group 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 transaction, the executive vice president owned 20,490 shares of the company's stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer owned 554,879 shares of the company's stock, valued at $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,787 shares of company stock worth $1,782,794. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several analyst reports. Morgan Stanley lowered their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.