The PNC Financial Services Group, Inc (NYSE:PNC) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1,503.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,090 shares of the financial services provider's stock after acquiring an additional 48,841 shares during the quarter. Edgestream Partners L.P.'s holdings in The PNC Financial Services Group were worth $9,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its stake in shares of The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 65 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $35,000. REAP Financial Group LLC increased its stake in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 80 shares during the period. Hoey Investments Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $39,000. Finally, True Wealth Design LLC increased its stake in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PNC shares. Morgan Stanley dropped their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Citigroup lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Royal Bank Of Canada lowered their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Finally, Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $209.11.

Insider Activity at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the sale, the chief executive officer directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 9,545 shares of company stock valued at $1,590,080. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Down 0.5%

NYSE PNC opened at $196.98 on Monday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month 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 stock has a market cap of $77.92 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.66 and a beta of 1.07. The firm's 50 day moving average price is $179.40 and its two-hundred day moving average price 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, topping analysts' consensus estimates 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 company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's payout ratio is presently 45.20%.

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.

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