The PNC Financial Services Group, Inc (NYSE:PNC) Holdings Lifted by Bailard Inc.

Bailard Inc. boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 52,930 shares of the financial services provider’s stock after buying an additional 2,533 shares during the period. Bailard Inc.’s holdings in The PNC Financial Services Group were worth $9,303,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PNC. Mechanics Financial Corp acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth $541,000. AssuredPartners Investment Advisors LLC acquired a new position in The PNC Financial Services Group in the 4th quarter worth about $739,000. Premier Fund Managers Ltd raised its stake in shares of The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after purchasing an additional 13,700 shares in the last quarter. PKS Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $357,000. Finally, Exane Asset Management grew its stake in shares of The PNC Financial Services Group by 32.9% in the 1st quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock valued at $28,434,000 after buying an additional 37,110 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Citigroup reduced their price objective 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 note on Monday, March 24th. Bank of America upped their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank Of Canada cut their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an “underweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.00.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value 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 $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president owned 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,545 shares of company stock worth $1,590,080 over the last three months. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 0.9%

PNC opened at $193.93 on Thursday. The business has a 50 day moving average of $181.20 and a 200-day moving average of $180.24. The stock has a market capitalization of $76.71 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.52 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. 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 released its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $5.61 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.39 EPS. As a group, sell-side 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 Increases Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 3.51%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 48.02%.

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.