Moloney Securities Asset Management LLC Reduces Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

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

Other institutional investors have also recently made changes to their positions in the company. Mechanics Financial Corp purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $541,000. AssuredPartners Investment Advisors LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $739,000. Premier Fund Managers Ltd boosted its stake in The PNC Financial Services Group by 38.3% during the fourth 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 during the last quarter. PKS Advisory Services LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $357,000. Finally, Kingswood Wealth Advisors LLC boosted its stake 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 valued at $493,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the business's stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director owned 2,009 shares of the company's stock, valued at $317,863.98. The trade was a 99.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president 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 disclosure for this sale can be found here. In the last three months, insiders have sold 10,186 shares of company stock worth $1,686,634. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Up 1.1%

NYSE PNC traded up $2.07 on Thursday, reaching $198.21. 3,802,762 shares of the stock traded hands, compared to its average volume of 2,147,158. 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 fifty day moving average price of $178.77 and a 200-day moving average price of $180.21. The company has a market cap of $78.41 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.65 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating 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 business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. As a group, research analysts forecast 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. The ex-dividend date of this dividend is Tuesday, July 15th. This is an increase 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 3.43%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PNC. Wells Fargo & Company dropped 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 research note on Friday, March 28th. Truist Financial increased their price target on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price target for the company from $185.00 to $212.00 in a research note on Wednesday. TD Cowen initiated coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They set a "buy" rating and a $233.00 price target for the company. Finally, Royal Bank Of Canada lowered their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average 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.