J.W. Cole Advisors Inc. Has $2.66 Million Position in The PNC Financial Services Group, Inc (NYSE:PNC)

J.W. Cole Advisors Inc. grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 410.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,120 shares of the financial services provider's stock after purchasing an additional 12,160 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in The PNC Financial Services Group were worth $2,658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Cornerstone Planning Group LLC boosted its position in The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 65 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $35,000. REAP Financial Group LLC boosted its holdings in shares of The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after buying an additional 80 shares during the last quarter. Hoey Investments Inc. acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $39,000. Finally, True Wealth Design LLC lifted its stake in The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of the 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 in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction 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 in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,061 shares of company stock valued at $1,199,723 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PNC shares. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Barclays cut their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Finally, Bank of America raised their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $212.76.

The PNC Financial Services Group Trading Down 0.2%

The PNC Financial Services Group stock traded down $0.47 during trading hours on Friday, hitting $195.68. The stock had a trading volume of 384,158 shares, compared to its average volume of 2,423,844. The business's 50 day simple moving average is $183.93 and its 200-day simple moving average is $180.38. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The stock has a market cap of $77.40 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.47 and a beta of 1.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the firm posted $3.39 earnings per share. The firm's revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be paid a $1.70 dividend. 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. This represents a $6.80 annualized dividend and a dividend yield of 3.48%. The PNC Financial Services Group's payout ratio is currently 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.