1,762 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Diversify Advisory Services LLC

Diversify Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,762 shares of the financial services provider’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PNC. Alps Advisors Inc. bought a new stake in The PNC Financial Services Group during the 3rd quarter valued at $351,000. Scotia Capital Inc. boosted its position in The PNC Financial Services Group by 11.7% during the 3rd quarter. Scotia Capital Inc. now owns 10,458 shares of the financial services provider’s stock valued at $1,284,000 after acquiring an additional 1,094 shares in the last quarter. Schroder Investment Management Group boosted its position in The PNC Financial Services Group by 4.4% during the 3rd quarter. Schroder Investment Management Group now owns 53,954 shares of the financial services provider’s stock valued at $6,624,000 after acquiring an additional 2,253 shares in the last quarter. Toroso Investments LLC boosted its position in The PNC Financial Services Group by 7.2% during the 3rd quarter. Toroso Investments LLC now owns 12,207 shares of the financial services provider’s stock valued at $1,499,000 after acquiring an additional 824 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in The PNC Financial Services Group by 8.2% during the 3rd quarter. Townsquare Capital LLC now owns 16,279 shares of the financial services provider’s stock valued at $1,999,000 after acquiring an additional 1,231 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Insiders have sold 2,132 shares of company stock worth $328,809 in the last ninety days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $156.51 on Friday. The stock has a 50-day simple moving average of $155.24 and a two-hundred day simple moving average of $153.11. The firm has a market capitalization of $62.28 billion, a P/E ratio of 13.14, a PEG ratio of 2.23 and a beta of 1.15. 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 PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the business posted $3.98 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.09%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNC shares. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday. Evercore ISI increased their price objective on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $158.56.

Check Out Our Latest Stock Report on PNC

The PNC Financial Services Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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