The PNC Financial Services Group, Inc (NYSE:PNC) Shares Acquired by Tiller Private Wealth Inc.

Key Points

• Tiller Private Wealth Inc. has increased its stake in The PNC Financial Services Group by 96.0%, acquiring an additional 1,536 shares to own a total of 3,136 shares, which are valued at $551,000.
• The PNC Financial Services Group reported $3.85 EPS for the latest quarter, exceeding the consensus estimate of $3.56, while also announcing a quarterly dividend increase to $1.70 per share.
• Analysts have upgraded their ratings, with price targets for The PNC Financial Services Group ranging widely, with Bank of America raising their target to $226.00, reflecting strong market interest and optimism.

Tiller Private Wealth Inc. raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 96.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,136 shares of the financial services provider's stock after purchasing an additional 1,536 shares during the quarter. The PNC Financial Services Group accounts for approximately 0.2% of Tiller Private Wealth Inc.'s holdings, making the stock its 25th biggest position. Tiller Private Wealth Inc.'s holdings in The PNC Financial Services Group were worth $551,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted 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 worth $34,000 after acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at $35,000. REAP Financial Group LLC boosted its holdings in shares of The PNC Financial Services Group by 67.2% during the 4th 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 last quarter. True Wealth Design LLC grew its position in shares of The PNC Financial Services Group by 41.5% during 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 in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter worth about $41,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 0.1%

NYSE:PNC traded down $0.25 during midday trading on Wednesday, hitting $188.74. The stock had a trading volume of 1,335,774 shares, compared to its average volume of 2,339,788. The stock has a 50-day moving average of $186.52 and a 200 day moving average of $180.05. The company has a market capitalization of $74.33 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.41 and a beta of 1.09. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The business's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.39 EPS. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were paid a dividend of $1.70 per share. This is a boost 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 dividend yield of 3.6%. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is 46.51%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred 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 $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the executive vice president owned 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,218 shares of company stock worth $900,918. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. 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. Oppenheimer upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective for the company in a research report on Wednesday, July 30th. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Tuesday, July 8th. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, Barclays reduced their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, eight have assigned 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 company has an average rating of "Moderate Buy" and a consensus price target of $214.17.

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.