Waverly Advisors LLC Buys 11,903 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Waverly Advisors LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 266.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,369 shares of the financial services provider's stock after acquiring an additional 11,903 shares during the quarter. Waverly Advisors LLC's holdings in The PNC Financial Services Group were worth $3,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Norges Bank purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $299,864,000. Schroder Investment Management Group boosted its stake in The PNC Financial Services Group by 166.1% in the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after purchasing an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after purchasing an additional 726,115 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after purchasing an additional 710,311 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PNC shares. 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 dropped their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. dropped their price target on 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. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, Royal Bank of Canada dropped their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and an average price target of $202.67.

The PNC Financial Services Group Trading Down 0.6%

PNC traded down $1.12 during trading on Friday, reaching $171.87. The company had a trading volume of 1,641,637 shares, compared to its average volume of 2,054,681. The stock has a market cap of $67.99 billion, a P/E ratio of 12.50, a PEG ratio of 1.55 and a beta of 1.06. The business has a 50 day simple moving average of $165.13 and a 200-day simple moving average of $185.76. 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 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly 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 return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, 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 firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.72%. The PNC Financial Services Group's payout ratio is 45.20%.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of the firm'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 transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $179.14, for a total value of $222,491.88. Following the transaction, the chief executive officer now owns 556,121 shares in the company, valued at approximately $99,623,515.94. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,396 shares of company stock worth $2,773,072 over the last quarter. Company insiders own 0.41% of the company's stock.

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.