The PNC Financial Services Group, Inc (NYSE:PNC) Position Increased by Denali Advisors LLC

Denali Advisors LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 58.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,900 shares of the financial services provider's stock after acquiring an additional 1,800 shares during the quarter. Denali Advisors LLC's holdings in The PNC Financial Services Group were worth $861,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after buying an additional 984 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of The PNC Financial Services Group by 161.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,425 shares of the financial services provider's stock valued at $468,000 after purchasing an additional 1,499 shares during the last quarter. Sandy Spring Bank boosted its holdings in shares of The PNC Financial Services Group by 1.4% in the 4th quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider's stock worth $945,000 after purchasing an additional 67 shares during the period. Millstone Evans Group LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $608,000. Finally, Summit Global Investments bought a new stake in The PNC Financial Services Group in the fourth quarter worth $639,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Truist Financial upped their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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 trading on Monday, reaching $196.02. The stock had a trading volume of 1,824,891 shares, compared to its average volume of 2,144,241. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The stock has a market cap of $77.54 billion, a PE ratio of 13.41, a PEG ratio of 1.45 and a beta of 1.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.80. The business has a fifty day moving average price of $182.39 and a 200-day moving average price of $180.13.

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

The PNC Financial Services Group Increases Dividend

The business also recently disclosed 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 of this dividend is Tuesday, July 15th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.47%. The PNC Financial Services Group's payout ratio is currently 46.51%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred 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 sale, the chief executive officer owned 554,879 shares of the company's stock, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff purchased 1,000 shares of the stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, the director owned 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 8,904 shares of company stock valued at $1,493,609 over the last 90 days. 0.41% of the stock is owned by corporate insiders.

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.