The PNC Financial Services Group, Inc (NYSE:PNC) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,153 shares of the financial services provider's stock after selling 6,137 shares during the quarter. Wealthfront Advisers LLC's holdings in The PNC Financial Services Group were worth $10,573,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PNC. Brighton Jones LLC lifted its stake in shares of The PNC Financial Services Group by 32.2% during the 4th 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. Parallel Advisors LLC raised its position in shares of The PNC Financial Services Group by 5.9% in the 4th quarter. Parallel Advisors LLC now owns 3,732 shares of the financial services provider's stock worth $720,000 after buying an additional 209 shares during the period. Argent Advisors Inc. raised its position in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Argent Advisors Inc. now owns 8,536 shares of the financial services provider's stock worth $1,646,000 after buying an additional 147 shares during the period. Axxcess Wealth Management LLC raised its position in shares of The PNC Financial Services Group by 6.6% in the 4th quarter. Axxcess Wealth Management LLC now owns 20,502 shares of the financial services provider's stock worth $3,954,000 after buying an additional 1,261 shares during the period. Finally, Mystic Asset Management Inc. raised its position in shares of The PNC Financial Services Group by 152.0% in the 4th quarter. Mystic Asset Management Inc. now owns 12,334 shares of the financial services provider's stock worth $2,379,000 after buying an additional 7,439 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

PNC has been the topic of several research reports. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Royal Bank Of Canada cut 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 research report on Wednesday, April 16th. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research report 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 company from $185.00 to $212.00 in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $212.76.

Insider Activity

In other news, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president directly owned 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin Pfinsgraff purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director directly owned 2,009 shares of the company's stock, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders sold 9,545 shares of company stock worth $1,590,080 over the last ninety days. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Down 0.2%

Shares of The PNC Financial Services Group stock traded down $0.44 during trading hours on Friday, hitting $195.56. 600,675 shares of the company's stock traded hands, compared to its average volume of 2,136,295. The stock has a 50 day simple moving average of $181.79 and a 200-day simple moving average of $180.27. 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 company has a market cap of $77.36 billion, a PE ratio of 13.36, a PEG ratio of 1.54 and a beta of 1.07. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion during 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 company's revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $3.39 earnings per share. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, July 15th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.48%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 48.02%.

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.