Nisa Investment Advisors LLC Has $27.74 Million Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Nisa Investment Advisors LLC decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,840 shares of the financial services provider's stock after selling 15,949 shares during the quarter. Nisa Investment Advisors LLC's holdings in The PNC Financial Services Group were worth $27,744,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PNC. Mechanics Financial Corp purchased a new position in The PNC Financial Services Group in the fourth quarter worth approximately $541,000. AssuredPartners Investment Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth approximately $739,000. Premier Fund Managers Ltd boosted its position in shares of 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 worth $9,511,000 after buying an additional 13,700 shares during the period. PKS Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth $357,000. Finally, Kingswood Wealth Advisors LLC boosted its position in shares of 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 buying an additional 120 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff bought 1,000 shares of the company's stock in a transaction 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 completion of 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president directly owned 20,490 shares of the company's stock, valued at approximately $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. Insiders sold 10,186 shares of company stock valued at $1,686,634 in the last ninety days. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC traded up $2.07 during trading on Thursday, hitting $198.21. The stock had a trading volume of 3,802,762 shares, compared to its average volume of 2,147,158. The firm has a market cap of $78.41 billion, a PE ratio of 14.00, a P/E/G ratio of 1.67 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 current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The company has a 50 day simple moving average of $178.02 and a 200-day simple moving average of $180.18.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly 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 for 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%. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Analyst Ratings Changes

Several research firms have recently commented on PNC. Morgan Stanley lowered their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. TD Cowen assumed coverage on 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. reduced their price objective on 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, Truist Financial increased their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have issued 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $209.11.

The PNC Financial Services Group Company 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.