The PNC Financial Services Group, Inc (NYSE:PNC) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 77.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,082 shares of the financial services provider's stock after acquiring an additional 13,614 shares during the period. Y Intercept Hong Kong Ltd's holdings in The PNC Financial Services Group were worth $5,463,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PNC. Cornerstone Planning Group LLC raised its position in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 65 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth $35,000. REAP Financial Group LLC raised its position in shares of The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Hoey Investments Inc. bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $39,000. Finally, True Wealth Design LLC grew its stake in The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after buying an additional 59 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. 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. Citigroup boosted their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their target price for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $212.76.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated 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 owned 554,879 shares of the company's stock, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the company'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 directly owned 20,490 shares of the company's stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,061 shares of company stock valued at $1,199,723 in the last ninety days. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.15 during mid-day trading on Friday, reaching $196.00. The company had a trading volume of 593,493 shares, compared to its average volume of 2,425,282. 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 quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $77.53 billion, a P/E ratio of 13.40, a PEG ratio of 1.47 and a beta of 1.07. The stock has a 50 day moving average of $183.93 and a two-hundred day moving average of $180.38.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the business earned $3.39 earnings per share. The company's revenue was up 4.6% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a $1.70 dividend. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.47%. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

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.