MQS Management LLC Takes $635,000 Position in The PNC Financial Services Group, Inc (NYSE:PNC)

MQS Management LLC bought a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,612 shares of the financial services provider's stock, valued at approximately $635,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Norges Bank bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $299,864,000. GAMMA Investing LLC increased its position in The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after buying an additional 1,143,079 shares in the last quarter. Schroder Investment Management Group increased its position in The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after buying an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of 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 valued at $1,453,763,000 after purchasing an additional 726,115 shares during the period. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group 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 of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff acquired 1,000 shares of the company's stock in a transaction dated 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 completion of the purchase, the director directly owned 2,009 shares of the company's stock, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 9,545 shares of company stock valued at $1,590,080 over the last quarter. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. TD Cowen initiated coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective on the stock. Citigroup lowered their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Barclays lowered their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank Of Canada lowered their price target 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, Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $209.11.

The PNC Financial Services Group Stock Down 0.5%

NYSE PNC opened at $196.98 on Friday. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The business's fifty day simple moving average is $179.40 and its 200-day simple moving average is $180.14. The firm has a market cap of $77.92 billion, a PE ratio of 13.91, a P/E/G ratio of 1.66 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, topping the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. As a group, equities analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.70 per share. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.45%. The PNC Financial Services Group's dividend payout ratio (DPR) is 48.02%.

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.

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