Simplicity Wealth LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Simplicity Wealth LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,796 shares of the financial services provider's stock, valued at approximately $2,229,000.

A number of other hedge funds also recently made changes to their positions in PNC. Childress Capital Advisors LLC raised its holdings in The PNC Financial Services Group by 5.6% in the 1st quarter. Childress Capital Advisors LLC now owns 1,542 shares of the financial services provider's stock valued at $249,000 after buying an additional 82 shares during the last quarter. Spire Wealth Management raised its holdings in The PNC Financial Services Group by 4.8% in the 1st quarter. Spire Wealth Management now owns 3,503 shares of the financial services provider's stock valued at $566,000 after buying an additional 162 shares during the last quarter. Godsey & Gibb Inc. raised its holdings in The PNC Financial Services Group by 0.9% in the 1st quarter. Godsey & Gibb Inc. now owns 115,922 shares of the financial services provider's stock valued at $18,733,000 after buying an additional 983 shares during the last quarter. Exane Asset Management bought a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $9,216,000. Finally, BSW Wealth Partners raised its holdings in The PNC Financial Services Group by 11.6% in the 1st quarter. BSW Wealth Partners now owns 3,630 shares of the financial services provider's stock valued at $587,000 after buying an additional 377 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 2.0 %

Shares of PNC stock traded down $3.21 during trading hours on Monday, hitting $157.14. 1,427,553 shares of the company were exchanged, compared to its average volume of 1,977,444. The company has a 50 day simple moving average of $155.53 and a two-hundred day simple moving average of $148.28. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $62.53 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.81 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $3.98 EPS. The PNC Financial Services Group's revenue was down 8.2% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group's payout ratio is currently 52.06%.

Analysts Set New Price Targets

PNC has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an "overweight" rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group lowered their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating for the company in a report on Wednesday, April 17th. Bank of America raised their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a "neutral" rating in a report on Wednesday, April 17th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an "underweight" rating in a report on Tuesday, January 30th. Finally, The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a "neutral" rating in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $157.02.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company's stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.