Sivia Capital Partners LLC Acquires Shares of 2,882 The PNC Financial Services Group, Inc. (NYSE:PNC)

Sivia Capital Partners LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,882 shares of the financial services provider's stock, valued at approximately $507,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $32,000. Whipplewood Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $33,000. REAP Financial Group LLC grew its position 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 buying 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 4th quarter worth approximately $39,000. Finally, True Wealth Design LLC lifted its position 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 valued at $39,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares of the company's stock, valued at $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the sale, the chief executive officer now owns 554,879 shares in the company, valued at approximately $94,190,710.25. This trade represents 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 15,154 shares of company stock valued at $2,525,591 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reduced their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Truist Financial reduced their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report 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. Finally, TD Cowen started 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $1.64 during trading on Wednesday, hitting $177.77. 2,123,992 shares of the company's stock were exchanged, compared to its average volume of 2,058,342. The stock has a market capitalization of $70.32 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.55 and a beta of 1.06. The business has a 50-day simple moving average of $165.56 and a 200-day simple moving average of $183.02. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share 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 business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.60%. The PNC Financial Services Group's dividend payout ratio (DPR) 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.