Silvercrest Asset Management Group LLC Buys 20,007 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Silvercrest Asset Management Group LLC lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 635,739 shares of the financial services provider's stock after purchasing an additional 20,007 shares during the period. The PNC Financial Services Group comprises 0.8% of Silvercrest Asset Management Group LLC's holdings, making the stock its 15th biggest holding. Silvercrest Asset Management Group LLC owned about 0.16% of The PNC Financial Services Group worth $122,602,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PNC. Capital Investment Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $330,000. Miracle Mile Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $500,000. SeaCrest Wealth Management LLC boosted its holdings in shares of The PNC Financial Services Group by 11.7% during the fourth quarter. SeaCrest Wealth Management LLC now owns 2,151 shares of the financial services provider's stock worth $415,000 after purchasing an additional 225 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of The PNC Financial Services Group by 20.8% during the fourth quarter. Park Avenue Securities LLC now owns 11,297 shares of the financial services provider's stock worth $2,179,000 after purchasing an additional 1,943 shares during the period. Finally, Laurel Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 44.4% in the fourth quarter. Laurel Wealth Advisors LLC now owns 338 shares of the financial services provider's stock valued at $65,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity

In other The PNC Financial Services Group 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 value of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the transaction, the chief executive officer now owns 571,025 shares of the company's stock, valued at approximately $109,893,761.25. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,638 shares of company stock valued at $3,012,095 in the last 90 days. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Down 0.5%

Shares of The PNC Financial Services Group stock traded down $0.85 during midday trading on Monday, reaching $178.57. The company had a trading volume of 1,466,067 shares, compared to its average volume of 2,048,884. The stock has a fifty day moving average price of $164.86 and a 200 day moving average price of $186.19. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $70.64 billion, a PE ratio of 12.99, a P/E/G ratio of 1.55 and a beta of 1.06. 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 issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping 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 analyst estimates of $5.50 billion. On average, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.58%. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Truist Financial lowered their target price on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Keefe, Bruyette & Woods reduced their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup reduced their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price 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.