Stephens Inc. AR Buys 24,844 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Stephens Inc. AR increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 59.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,840 shares of the financial services provider's stock after acquiring an additional 24,844 shares during the quarter. Stephens Inc. AR's holdings in The PNC Financial Services Group were worth $11,748,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Platform Technology Partners increased its holdings in shares of The PNC Financial Services Group by 65.8% during the 1st quarter. Platform Technology Partners now owns 2,583 shares of the financial services provider's stock worth $454,000 after acquiring an additional 1,025 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of The PNC Financial Services Group by 1.7% during the 1st quarter. Arizona State Retirement System now owns 116,445 shares of the financial services provider's stock worth $20,468,000 after acquiring an additional 1,909 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of The PNC Financial Services Group by 11.4% during the 1st quarter. Ballentine Partners LLC now owns 8,552 shares of the financial services provider's stock worth $1,503,000 after acquiring an additional 873 shares during the last quarter. IFC Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $228,000. Finally, SteelPeak Wealth LLC increased its holdings in shares of The PNC Financial Services Group by 34.7% during the 1st quarter. SteelPeak Wealth LLC now owns 21,297 shares of the financial services provider's stock worth $3,743,000 after acquiring an additional 5,489 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on PNC. Morgan Stanley decreased their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Truist Financial upped their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their price objective for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $209.11.

The PNC Financial Services Group Stock Performance

PNC opened at $196.98 on Monday. The firm has a market cap of $77.92 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. 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 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The business's fifty day moving average is $179.40 and its 200-day moving average is $180.03.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released 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 return on equity of 10.95% and a net margin of 17.68%. The firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. Sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's payout ratio is currently 45.20%.

Insider Buying and Selling at The PNC Financial Services Group

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 dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president owned 20,490 shares in the company, valued at $3,576,734.40. The trade was a 6.79% 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, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the transaction, the chief executive officer owned 554,879 shares in the company, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,545 shares of company stock worth $1,590,080 over the last 90 days. Insiders own 0.41% of the company's stock.

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.

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