Moody Aldrich Partners LLC Buys New Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Moody Aldrich Partners LLC bought a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,572 shares of the financial services provider's stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Norges Bank bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth about $299,864,000. GAMMA Investing LLC lifted its holdings in 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 buying an additional 1,143,079 shares during the period. Schroder Investment Management Group lifted its holdings in 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 buying an additional 860,554 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in 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 buying an additional 726,115 shares during the period. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 0.3%

Shares of PNC stock opened at $195.10 on Friday. 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 $77.18 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.66 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 company has a 50 day simple moving average of $175.83 and a two-hundred day simple moving average of $180.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. On average, research analysts expect 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.49%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, with a total value 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction 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 represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,787 shares of company stock valued at $1,782,794. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research reports. Royal Bank Of Canada decreased 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 report on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday. Keefe, Bruyette & Woods lowered their price objective on 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. Citigroup reduced their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Truist Financial reduced their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Two investment 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $206.35.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.