Headlands Technologies LLC Has $758,000 Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Key Points

• Headlands Technologies LLC increased its stake in The PNC Financial Services Group by 109.3%, owning 4,310 shares valued at approximately $758,000 at the end of the last quarter.
• The company recently announced a dividend increase to $1.70 per share, up from $1.60, representing an annualized yield of 3.6%.
• Analysts have set a consensus rating of "Moderate Buy" for PNC, with target prices ranging from $198.00 to $238.00.

Headlands Technologies LLC lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 109.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,310 shares of the financial services provider's stock after acquiring an additional 2,251 shares during the quarter. Headlands Technologies LLC's holdings in The PNC Financial Services Group were worth $758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ignite Planners LLC grew its position in The PNC Financial Services Group by 8.4% during the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider's stock worth $262,000 after buying an additional 126 shares during the period. Exane Asset Management grew its position in The PNC Financial Services Group by 32.9% during the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock worth $28,434,000 after buying an additional 37,110 shares during the period. Smith Salley Wealth Management grew its position in The PNC Financial Services Group by 15.6% during the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider's stock worth $12,804,000 after buying an additional 9,836 shares during the period. United Community Bank grew its position in The PNC Financial Services Group by 687.0% during the first quarter. United Community Bank now owns 12,325 shares of the financial services provider's stock worth $2,166,000 after buying an additional 10,759 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its position in The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock worth $493,000 after buying an additional 120 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated 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 owned 554,879 shares in the company, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded up $2.70 during trading on Tuesday, reaching $191.23. The company had a trading volume of 1,679,171 shares, compared to its average volume of 2,363,384. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $75.31 billion, a PE ratio of 13.08, a PEG ratio of 1.41 and a beta of 1.09. The business's 50 day moving average price is $187.66 and its 200-day moving average price is $179.66. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26.

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, beating the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.39 earnings per share. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a $1.70 dividend. 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 yield of 3.6%. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PNC. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Bank of America raised their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, TD Cowen began coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $214.17.

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.