Rhumbline Advisers Has $128.90 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Rhumbline Advisers increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 733,339 shares of the financial services provider's stock after acquiring an additional 14,549 shares during the period. Rhumbline Advisers owned about 0.19% of The PNC Financial Services Group worth $128,899,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. boosted its stake in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after buying an additional 140 shares during the period. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $32,000. Whipplewood Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $33,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $37,000. Finally, REAP Financial Group LLC raised its holdings in shares of The PNC Financial Services Group by 67.2% in the 4th 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 period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.1%

Shares of The PNC Financial Services Group stock traded up $0.15 during midday trading on Thursday, reaching $175.01. 337,012 shares of the company's stock traded hands, compared to its average volume of 2,048,167. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company's 50 day simple moving average is $165.10 and its 200 day simple moving average is $183.96. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $69.23 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

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, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.66%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent research reports. Barclays reduced 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. Truist Financial lowered their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their target price for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $202.67.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group 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 completion of the sale, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $178.83, for a total value of $222,106.86. Following the sale, the chief executive officer now directly owns 568,541 shares of the company's stock, valued at approximately $101,672,187.03. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,396 shares of company stock worth $2,747,698 over the last quarter. Company insiders own 0.41% of the company's stock.

About The PNC Financial Services Group

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.