Oak Thistle LLC Takes $639,000 Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Oak Thistle LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,635 shares of the financial services provider's stock, valued at approximately $639,000.

A number of other large investors have also added to or reduced their stakes in PNC. Cornerstone Planning Group LLC lifted its stake 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 purchasing an additional 65 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group during the first quarter worth $35,000. REAP Financial Group LLC lifted its stake in The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Hoey Investments Inc. bought a new stake in The PNC Financial Services Group during the fourth quarter worth $39,000. Finally, True Wealth Design LLC lifted its stake in The PNC Financial Services Group by 41.5% during the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 0.1%

NYSE:PNC traded down $0.20 during trading hours on Friday, hitting $195.95. 1,817,324 shares of the company were exchanged, compared to its average volume of 2,743,946. The stock has a market capitalization of $77.51 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a fifty day simple moving average of $184.26 and a 200 day simple moving average of $180.38.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same period last year, the business posted $3.39 EPS. The business's revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect 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 firm also recently declared 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 is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated 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 in the company, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,061 shares of company stock valued at $1,199,723. Company insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

PNC has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Truist Financial increased their price target 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, July 9th. Finally, Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $212.76.

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.