The PNC Financial Services Group, Inc (NYSE:PNC) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,840 shares of the financial services provider's stock after selling 15,949 shares during the period. 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 have also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after purchasing an additional 984 shares during the period. Proficio Capital Partners LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $37,587,000. Edgestream Partners L.P. purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $627,000. Daiwa Securities Group Inc. boosted its position in The PNC Financial Services Group by 7.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 52,084 shares of the financial services provider's stock valued at $10,044,000 after buying an additional 3,573 shares during the period. Finally, Independent Advisor Alliance boosted its position in The PNC Financial Services Group by 11.2% in the 4th quarter. Independent Advisor Alliance now owns 17,734 shares of the financial services provider's stock valued at $3,420,000 after buying an additional 1,779 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNC. TD Cowen began coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. 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 objective for the company in a research report on Tuesday. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their price target for the stock from $185.00 to $212.00 in a research report 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Moderate Buy" and an average price target of $209.11.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $0.44 during mid-day trading on Friday, reaching $197.51. 1,217,848 shares of the stock were exchanged, compared to its average volume of 2,417,951. The business's 50 day moving average is $178.77 and its 200-day moving average is $180.21. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a market capitalization of $78.13 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.65 and a beta of 1.07. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. On average, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.44%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president directly owned 20,490 shares of the company's stock, valued at $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $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 a total of 9,545 shares of company stock valued at $1,590,080 over the last ninety days. Corporate insiders own 0.41% of the company's stock.

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.