Rogco LP Makes New $429,000 Investment in The PNC Financial Services Group, Inc (NYSE:PNC)

Rogco LP bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,441 shares of the financial services provider's stock, valued at approximately $429,000.

Several other large investors have also recently bought and sold shares of PNC. Cornerstone Planning Group LLC raised its position in shares of 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 acquiring an additional 65 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group during the first quarter worth about $35,000. REAP Financial Group LLC raised its position in shares of 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 acquiring an additional 80 shares during the last quarter. Hoey Investments Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $39,000. Finally, True Wealth Design LLC raised its position in shares of 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 acquiring an additional 59 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PNC. Barclays decreased their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their target price for the stock from $185.00 to $212.00 in a research note on Wednesday. Royal Bank Of Canada reduced their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Raymond James Financial raised 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 note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus target price of $209.11.

Insider Activity at The PNC Financial Services Group

In related 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 $94,190,710.25. This represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff purchased 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, with a total value of $158,220.00. Following the transaction, the director directly owned 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 9,545 shares of company stock worth $1,590,080 in the last ninety days. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $0.13 during midday trading on Friday, reaching $197.83. The stock had a trading volume of 1,317,337 shares, compared to its average volume of 2,144,085. The company'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 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 market capitalization of $78.25 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 10.95% and a net margin of 17.68%. The firm had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. On average, equities analysts predict 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 announced 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. The ex-dividend date of this dividend is Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.44%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

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.