GAMMA Investing LLC Grows Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

GAMMA Investing LLC boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 19,279.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,149,008 shares of the financial services provider's stock after buying an additional 1,143,079 shares during the quarter. GAMMA Investing LLC owned approximately 0.29% of The PNC Financial Services Group worth $201,961,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PNC. Brighton Jones LLC raised its holdings in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after purchasing an additional 984 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in The PNC Financial Services Group by 12.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,742 shares of the financial services provider's stock worth $336,000 after buying an additional 198 shares during the last quarter. Foster & Motley Inc. lifted its holdings in The PNC Financial Services Group by 50.8% in the fourth quarter. Foster & Motley Inc. now owns 2,489 shares of the financial services provider's stock valued at $480,000 after buying an additional 838 shares during the period. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, OLD National Bancorp IN grew its holdings in The PNC Financial Services Group by 5.1% during the 4th quarter. OLD National Bancorp IN now owns 3,535 shares of the financial services provider's stock worth $682,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC stock traded down $1.01 during midday trading on Wednesday, hitting $175.30. The company's stock had a trading volume of 783,317 shares, compared to its average volume of 2,053,590. The stock has a market cap of $69.34 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock's 50-day moving average price is $165.03 and its 200 day moving average price is $184.02. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued 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 3.65%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the firm's 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 completion of the transaction, the executive vice president now owns 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now directly owns 567,299 shares of the company's stock, valued at $97,093,223.85. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,396 shares of company stock valued at $2,747,698. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Truist Financial cut their target price on shares of 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. Finally, 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 on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group 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.