The PNC Financial Services Group, Inc $PNC Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 8.3% during the first quarter, Holdings Channel.com reports. The firm owned 2,816,605 shares of the financial services provider’s stock after purchasing an additional 215,454 shares during the period. First Trust Advisors LP’s holdings in The PNC Financial Services Group were worth $586,107,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Monetary Solutions Ltd purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $25,000. Quarry LP purchased a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Modus Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $29,000. Financial Life Planners acquired a new position in The PNC Financial Services Group in the first quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC boosted its stake in The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.1%

Shares of NYSE:PNC opened at $250.37 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market capitalization of $100.54 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The firm’s 50-day moving average is $234.58 and its two-hundred day moving average is $224.11. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $256.49.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the company earned $3.85 earnings per share. The business’s quarterly revenue was up 21.4% on a year-over-year basis. Analysts predict that The PNC Financial Services Group, Inc will post 19.14 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $8.00 annualized dividend and a yield of 3.2%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is 44.03%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Barclays boosted their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Oppenheimer upped their price target on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $265.50.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,300 shares of company stock valued at $10,694,574 in the last 90 days. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.