Exane Asset Management Has $28.43 Million Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Exane Asset Management grew its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 32.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,783 shares of the financial services provider's stock after buying an additional 37,110 shares during the quarter. The PNC Financial Services Group accounts for approximately 16.2% of Exane Asset Management's holdings, making the stock its 2nd biggest holding. Exane Asset Management's holdings in The PNC Financial Services Group were worth $28,434,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Stratos Wealth Advisors LLC increased its position in The PNC Financial Services Group by 10.7% during the 1st quarter. Stratos Wealth Advisors LLC now owns 1,178 shares of the financial services provider's stock worth $207,000 after purchasing an additional 114 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of The PNC Financial Services Group by 0.9% in the first quarter. Stratos Wealth Partners LTD. now owns 46,842 shares of the financial services provider's stock worth $8,233,000 after buying an additional 416 shares during the period. Garrett Wealth Advisory Group LLC grew its position in The PNC Financial Services Group by 33.1% in the first quarter. Garrett Wealth Advisory Group LLC now owns 3,098 shares of the financial services provider's stock valued at $545,000 after acquiring an additional 770 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in The PNC Financial Services Group by 37.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 49,101 shares of the financial services provider's stock valued at $8,630,000 after buying an additional 13,362 shares during the last quarter. Finally, Washington Trust Bank grew its stake in The PNC Financial Services Group by 4.7% during the 1st quarter. Washington Trust Bank now owns 85,914 shares of the financial services provider's stock valued at $15,101,000 after purchasing an additional 3,831 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their target price 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. Keefe, Bruyette & Woods reduced their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Finally, Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $207.11.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president owned 20,490 shares of the company's stock, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares of the company's stock, valued at $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 10,787 shares of company stock valued at $1,782,794 in the last 90 days. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 1.0%

Shares of PNC traded up $1.97 during midday trading on Tuesday, reaching $198.22. 4,366,480 shares of the stock were exchanged, compared to its average volume of 2,129,942. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The firm has a 50 day simple moving average of $176.56 and a 200-day simple moving average of $179.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The company has a market cap of $78.41 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.66 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current 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 issued a dividend of $1.70 per share. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.43%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

The PNC Financial Services Group Company 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.