Janney Montgomery Scott LLC Has $101.40 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Janney Montgomery Scott LLC cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 576,892 shares of the financial services provider's stock after selling 4,497 shares during the period. Janney Montgomery Scott LLC owned 0.15% of The PNC Financial Services Group worth $101,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Norges Bank acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $299,864,000. GAMMA Investing LLC raised its stake in shares of The PNC Financial Services Group by 19,279.5% in the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after acquiring an additional 1,143,079 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of The PNC Financial Services Group by 166.1% in the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after acquiring an additional 860,554 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after acquiring an additional 726,115 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on PNC shares. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Morgan Stanley dropped their target price on shares of 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. JPMorgan Chase & Co. dropped 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 Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company'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 value of $210,829.50. Following the completion of the transaction, the chief executive officer now owns 554,879 shares in the company, valued at $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the acquisition, the director now directly owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 13,912 shares of company stock worth $2,313,022 over the last quarter. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Down 2.6%

Shares of NYSE PNC opened at $173.18 on Monday. The stock has a market cap of $68.50 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.55 and a beta of 1.06. The firm has a 50 day moving average price of $167.04 and a 200 day moving average price of $182.00. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week 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, beating the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

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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