Cambridge Investment Research Advisors Inc. Grows Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Cambridge Investment Research Advisors Inc. raised its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,243 shares of the financial services provider’s stock after acquiring an additional 4,419 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in The PNC Financial Services Group were worth $11,643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Quadrant Capital Group LLC grew its position in The PNC Financial Services Group by 0.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 59 shares during the period. True Wealth Design LLC grew its position in The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 59 shares during the period. Dynasty Wealth Management LLC grew its position in The PNC Financial Services Group by 4.5% during the 4th quarter. Dynasty Wealth Management LLC now owns 1,477 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 64 shares during the period. Metis Global Partners LLC grew its position in The PNC Financial Services Group by 0.4% during the 4th quarter. Metis Global Partners LLC now owns 18,585 shares of the financial services provider’s stock worth $3,584,000 after purchasing an additional 67 shares during the period. Finally, Sandy Spring Bank grew its position in The PNC Financial Services Group by 1.4% during the 4th quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider’s stock worth $945,000 after purchasing an additional 67 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Up 0.7%

Shares of The PNC Financial Services Group stock opened at $182.05 on Wednesday. The firm has a market capitalization of $72.01 billion, a PE ratio of 12.86, a P/E/G ratio of 1.52 and a beta of 1.06. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The firm’s 50-day moving average price is $170.16 and its 200 day moving average price is $180.59. 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 (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. On average, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $179.14, for a total value of $222,491.88. Following the transaction, the chief executive officer now directly owns 556,121 shares of the company’s stock, valued at $99,623,515.94. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,670 shares of company stock valued at $2,099,398 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on 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. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. 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 research note on Wednesday, April 16th. Barclays lowered their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

The PNC Financial Services Group Company 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.