Souders Financial Advisors Reduces Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Souders Financial Advisors lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 42.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,141 shares of the financial services provider's stock after selling 6,780 shares during the period. Souders Financial Advisors' holdings in The PNC Financial Services Group were worth $1,607,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mechanics Financial Corp bought a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $541,000. AssuredPartners Investment Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth $739,000. Premier Fund Managers Ltd boosted its stake in shares of The PNC Financial Services Group by 38.3% in the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock worth $9,511,000 after buying an additional 13,700 shares during the last quarter. PKS Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth $357,000. Finally, Exane Asset Management boosted its stake in shares of The PNC Financial Services Group by 32.9% in the 1st quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock worth $28,434,000 after buying an additional 37,110 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $166.79, for a total transaction of $207,153.18. Following the transaction, the chief executive officer owned 557,363 shares in the company, valued at $92,962,574.77. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the purchase, the director owned 2,009 shares of the company's stock, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 8,904 shares of company stock valued at $1,493,609. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Bank of America raised their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday. 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. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Barclays lowered 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 research report on Wednesday, April 16th. Finally, Morgan Stanley lifted their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $212.76.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $0.50 during mid-day trading on Monday, reaching $196.02. The stock had a trading volume of 1,825,168 shares, compared to its average volume of 2,144,241. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company has a market cap of $77.54 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The business's 50 day moving average price is $182.39 and its 200 day moving average price is $180.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the firm posted $3.39 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. Research analysts expect 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. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.47%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's payout ratio is currently 46.51%.

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.