Sonora Investment Management Group LLC Grows Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sonora Investment Management Group LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,087 shares of the financial services provider's stock after purchasing an additional 1,741 shares during the period. Sonora Investment Management Group LLC's holdings in The PNC Financial Services Group were worth $13,725,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $33,000. 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 valued at $38,000 after purchasing an additional 80 shares during the last quarter. Hoey Investments Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $39,000. Finally, True Wealth Design LLC lifted its position in shares of The PNC Financial Services Group by 41.5% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $1.64 during mid-day trading on Wednesday, hitting $177.77. 2,552,853 shares of the company traded hands, compared to its average volume of 2,055,650. The stock has a market cap of $70.32 billion, a price-to-earnings ratio of 12.93, a P/E/G 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 company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day moving average price of $165.56 and a two-hundred day moving average price of $183.02.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. 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 company 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 45.20%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a report on Wednesday, April 16th. Truist Financial decreased their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Barclays decreased their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup decreased their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average price target of $202.67.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $172.00, for a total value of $213,624.00. Following the transaction, the chief executive officer now owns 566,057 shares in the company, valued at approximately $97,361,804. This trade represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff purchased 1,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were acquired at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, the director now directly owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 15,154 shares of company stock worth $2,525,591. 0.41% of the stock is currently owned by corporate insiders.

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.