The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Royal Bank of Canada

Royal Bank of Canada boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,573,162 shares of the financial services provider's stock after purchasing an additional 179,760 shares during the quarter. Royal Bank of Canada owned about 0.90% of The PNC Financial Services Group worth $689,084,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. SeaCrest Wealth Management LLC raised its stake in The PNC Financial Services Group by 11.7% during the 4th quarter. SeaCrest Wealth Management LLC now owns 2,151 shares of the financial services provider's stock valued at $415,000 after purchasing an additional 225 shares during the period. Park Avenue Securities LLC increased its stake in The PNC Financial Services Group by 20.8% in the 4th quarter. Park Avenue Securities LLC now owns 11,297 shares of the financial services provider's stock worth $2,179,000 after acquiring an additional 1,943 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its stake in The PNC Financial Services Group by 4.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 4,436 shares of the financial services provider's stock worth $856,000 after acquiring an additional 176 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in The PNC Financial Services Group by 460.7% in the 4th quarter. Pinnacle Bancorp Inc. now owns 499 shares of the financial services provider's stock worth $96,000 after acquiring an additional 410 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in The PNC Financial Services Group by 17.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,197 shares of the financial services provider's stock worth $1,966,000 after acquiring an additional 1,511 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction on 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 owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,638 shares of company stock worth $3,012,095. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on PNC. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Barclays dropped 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. Royal Bank of Canada dropped their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company dropped their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. lowered their target price 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 issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group Trading Down 0.7%

NYSE PNC traded down $1.28 on Tuesday, reaching $177.36. 1,084,314 shares of the company were exchanged, compared to its average volume of 2,047,510. The business's fifty day moving average price is $165.01 and its 200 day moving average price is $186.13. The stock has a market capitalization of $70.16 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. 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 Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. Analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.61%. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

The PNC Financial Services Group Company 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.