The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Increased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 53.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 37,958 shares of the financial services provider's stock after acquiring an additional 13,225 shares during the period. Pallas Capital Advisors LLC's holdings in The PNC Financial Services Group were worth $6,672,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in The PNC Financial Services Group by 7.6% during the first quarter. Farther Finance Advisors LLC now owns 6,467 shares of the financial services provider's stock worth $1,129,000 after buying an additional 457 shares during the period. City Holding Co. increased its stake in shares of The PNC Financial Services Group by 5.2% during the 1st quarter. City Holding Co. now owns 2,243 shares of the financial services provider's stock valued at $394,000 after acquiring an additional 111 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 356.3% during the 1st quarter. Daymark Wealth Partners LLC now owns 57,196 shares of the financial services provider's stock worth $10,053,000 after acquiring an additional 44,660 shares during the period. Toth Financial Advisory Corp boosted its position in shares of The PNC Financial Services Group by 89.6% in the first quarter. Toth Financial Advisory Corp now owns 635 shares of the financial services provider's stock worth $112,000 after acquiring an additional 300 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in The PNC Financial Services Group by 0.4% in the first quarter. Wesbanco Bank Inc. now owns 58,965 shares of the financial services provider's stock valued at $10,364,000 after purchasing an additional 226 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $172.00, for a total transaction of $213,624.00. Following the completion of the transaction, the chief executive officer now owns 566,057 shares in the company, valued at approximately $97,361,804. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,154 shares of company stock worth $2,525,591. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Down 0.0%

PNC stock traded down $0.04 during trading on Thursday, reaching $177.70. The stock had a trading volume of 1,647,406 shares, compared to its average volume of 2,054,024. The firm has a fifty day moving average price of $166.06 and a 200 day moving average price of $182.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $70.29 billion, a P/E ratio of 12.92, a PEG ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is currently 45.20%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PNC. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley cut their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their target price for the company from $206.00 to $202.00 in a report on Monday, March 31st. Royal Bank of Canada dropped their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Truist Financial cut their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

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.