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

Moloney Securities Asset Management LLC decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 16.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director owned 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the sale, the chief executive officer owned 554,879 shares of the company's stock, valued at $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,545 shares of company stock worth $1,590,080 over the last 90 days. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on PNC. TD Cowen started coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target for the company. Truist Financial upped their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research report on Wednesday. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research note on Tuesday. Royal Bank Of Canada cut their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their target price for the company from $185.00 to $212.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $209.11.

The PNC Financial Services Group Price Performance

PNC stock traded down $0.97 during trading on Friday, hitting $196.98. The company had a trading volume of 2,642,903 shares, compared to its average volume of 2,149,133. The business has a 50 day moving average of $178.77 and a 200 day moving average of $180.21. The firm has a market capitalization of $77.92 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.65 and a beta of 1.07. 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 PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.70 per share. The ex-dividend date 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 annualized dividend and a dividend yield of 3.45%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

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.