Moloney Securities Asset Management LLC Has $1.54 Million Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Moloney Securities Asset Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 16.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,786 shares of the financial services provider's stock after selling 1,717 shares during the period. Moloney Securities Asset Management LLC's holdings in The PNC Financial Services Group were worth $1,544,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Mechanics Financial Corp bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $541,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $739,000. Premier Fund Managers Ltd grew its stake in shares of The PNC Financial Services Group by 38.3% in the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock valued at $9,511,000 after buying an additional 13,700 shares in the last quarter. PKS Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $357,000. Finally, Kingswood Wealth Advisors LLC boosted its position in The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock worth $493,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PNC shares. Truist Financial lifted their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of 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. TD Cowen started coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $209.11.

Insider Activity

In other news, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president directly owned 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction 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 sale, the chief executive officer directly 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. Over the last ninety days, insiders sold 10,186 shares of company stock worth $1,686,634. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

PNC stock traded down $1.71 during trading on Wednesday, hitting $196.29. 3,730,485 shares of the stock traded hands, compared to its average volume of 2,139,776. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a 50 day simple moving average of $177.31 and a 200 day simple moving average of $180.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The stock has a market cap of $77.65 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.65 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (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 during the quarter, compared to analysts' expectations of $5.50 billion. Equities 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. Stockholders of record on Tuesday, July 15th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.46%. The PNC Financial Services Group's dividend payout ratio (DPR) is 48.02%.

About The PNC Financial Services Group

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.