6,895 Shares in The PNC Financial Services Group, Inc (NYSE:PNC) Purchased by Virtu Financial LLC

Key Points

• Virtu Financial LLC purchased 6,895 shares of The PNC Financial Services Group, amounting to approximately $1.21 million, as disclosed in its recent SEC filing.
• The PNC Financial Services Group also announced a quarterly dividend of $1.70 per share, up from the previous $1.60, reflecting a 3.6% yield for shareholders.
• In recent analyst ratings, The PNC Financial Services Group received a consensus rating of "Moderate Buy" with a target price averaging $214.17.

Virtu Financial LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,895 shares of the financial services provider's stock, valued at approximately $1,212,000.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after purchasing an additional 984 shares during the period. Rockefeller Capital Management L.P. increased its stake in The PNC Financial Services Group by 3.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 142,226 shares of the financial services provider's stock valued at $27,416,000 after acquiring an additional 4,770 shares during the period. Townsquare Capital LLC grew its stake in shares of The PNC Financial Services Group by 29.5% in the 4th quarter. Townsquare Capital LLC now owns 23,567 shares of the financial services provider's stock valued at $4,545,000 after purchasing an additional 5,363 shares during the period. Sagespring Wealth Partners LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $946,000. Finally, Advisors Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Advisors Capital Management LLC now owns 19,233 shares of the financial services provider's stock valued at $3,709,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer owned 554,879 shares in the company, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 1.1%

PNC stock traded up $2.14 during trading hours on Wednesday, reaching $193.37. 1,506,096 shares of the stock were exchanged, compared to its average volume of 1,895,328. The firm's 50-day moving average is $188.32 and its 200-day moving average is $179.84. The company has a market cap of $76.15 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its 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 firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations 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 company's revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.39 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PNC shares. Barclays reduced their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley increased their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group increased 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 note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $214.17.

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.