ProShare Advisors LLC Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

ProShare Advisors LLC raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,025 shares of the financial services provider's stock after purchasing an additional 8,622 shares during the quarter. ProShare Advisors LLC's holdings in The PNC Financial Services Group were worth $16,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Richardson Financial Services Inc. increased its position in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $179.45 on Friday. The firm has a market capitalization of $70.98 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The stock has a fifty day moving average of $164.86 and a 200 day moving average of $186.23. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the sale, the chief executive officer now owns 571,025 shares of the company's stock, valued at $109,893,761.25. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president now directly owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,396 shares of company stock valued at $2,789,603 over the last 90 days. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PNC shares. Citigroup reduced their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price objective for the company from $206.00 to $202.00 in a report on Monday, March 31st. Keefe, Bruyette & Woods reduced their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. Barclays reduced their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average price target of $202.67.

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.

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