HBK Sorce Advisory LLC Has $3.65 Million Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

HBK Sorce Advisory LLC raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,742 shares of the financial services provider's stock after buying an additional 1,712 shares during the quarter. HBK Sorce Advisory LLC's holdings in The PNC Financial Services Group were worth $3,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Whipplewood Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $35,000. REAP Financial Group LLC raised its holdings in The PNC Financial Services Group by 67.2% during 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 period. Finally, Hoey Investments Inc. bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $39,000. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Truist Financial dropped their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Barclays dropped their price target 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. Royal Bank Of Canada reduced their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley dropped their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $202.67.

The PNC Financial Services Group Stock Performance

Shares of PNC traded up $0.53 during trading hours on Wednesday, hitting $182.55. The company had a trading volume of 2,402,015 shares, compared to its average volume of 2,079,628. The business has a fifty day moving average of $170.16 and a 200-day moving average of $180.59. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The firm has a market cap of $72.21 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.52 and a beta of 1.06. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released 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 PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. 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 EPS for the current fiscal 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 dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was 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 now owns 554,879 shares in the company, valued at $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,670 shares of company stock valued at $2,099,398. 0.41% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

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.