Bailard Inc. Raises Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Bailard Inc. increased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,930 shares of the financial services provider's stock after buying an additional 2,533 shares during the period. Bailard Inc.'s holdings in The PNC Financial Services Group were worth $9,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after buying an additional 268,827 shares in the last quarter. Franklin Resources Inc. raised its position in shares of The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after buying an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after buying an additional 1,964,157 shares in the last quarter. Norges Bank purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $1,352,151,000. Finally, Northern Trust Corp raised its position in The PNC Financial Services Group by 14.9% during the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after purchasing an additional 608,375 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Up 1.1%

Shares of PNC stock traded up $2.16 during mid-day trading on Thursday, reaching $196.09. 3,097,025 shares of the company's stock traded hands, compared to its average volume of 2,141,858. The company's 50-day moving average price is $181.20 and its 200-day moving average price is $180.24. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a market cap of $77.57 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.54 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates 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 firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.39 EPS. On average, equities analysts expect 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 firm 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. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date is Tuesday, July 15th. 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 presently 48.02%.

Analyst Ratings Changes

A number of research firms have weighed in on PNC. Wells Fargo & Company lowered their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Citigroup raised their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their price target for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Barclays lowered their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and a consensus price target of $211.94.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, May 23rd. The shares were 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff acquired 1,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the acquisition, the director directly owned 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 9,545 shares of company stock valued at $1,590,080 in the last 90 days. 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.