The PNC Financial Services Group, Inc (NYSE:PNC) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 946,524 shares of the financial services provider's stock after buying an additional 24,524 shares during the period. Victory Capital Management Inc. owned 0.24% of The PNC Financial Services Group worth $166,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC raised its holdings in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 65 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter worth about $35,000. REAP Financial Group LLC raised its position 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 worth $38,000 after acquiring an additional 80 shares in the last quarter. Hoey Investments Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter worth approximately $39,000. Finally, True Wealth Design LLC increased its holdings in shares of The PNC Financial Services Group by 41.5% in 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 during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction that occurred 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 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 at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm'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 sale, the chief executive officer owned 554,879 shares in the company, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,545 shares of company stock valued at $1,590,080. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 1.1%

NYSE:PNC traded up $2.16 on Thursday, hitting $196.09. 3,097,025 shares of the stock were exchanged, compared to its average volume of 2,141,858. The stock has a market cap of $77.57 billion, a PE ratio of 13.41, a PEG ratio of 1.54 and a beta of 1.07. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average of $181.20 and a 200-day moving average of $180.24. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the firm earned $3.39 earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.47%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is currently 48.02%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent research reports. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Royal Bank Of Canada dropped their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Citigroup boosted their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a report on Thursday. Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their target price for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $211.94.

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.