The PNC Financial Services Group, Inc (NYSE:PNC) Shares Bought by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 61.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,494 shares of the financial services provider’s stock after purchasing an additional 5,133 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in The PNC Financial Services Group were worth $2,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in The PNC Financial Services Group during the fourth quarter worth $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $299,864,000. GAMMA Investing LLC raised its position in shares of The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider’s stock worth $201,961,000 after purchasing an additional 1,143,079 shares during the last quarter. Schroder Investment Management Group lifted its stake in The PNC Financial Services Group by 166.1% in the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock valued at $265,436,000 after buying an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after buying an additional 726,115 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PNC shares. Keefe, Bruyette & Woods decreased their target price on 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. 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 research note on Monday, March 31st. Wolfe Research reaffirmed a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday. Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, Truist Financial decreased their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.35.

Insider Activity at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director directly owned 2,009 shares of the company’s stock, valued at $317,863.98. The trade was a 99.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer directly owned 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,787 shares of company stock worth $1,782,794. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $195.10 on Friday. The stock has a market cap of $77.18 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $175.83 and a 200-day simple moving average of $179.98. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. On average, analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

About The PNC Financial Services Group

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.