The PNC Financial Services Group, Inc $PNC Stock Holdings Lifted by RFG Advisory LLC

RFG Advisory LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 206.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,379 shares of the financial services provider’s stock after acquiring an additional 2,948 shares during the quarter. RFG Advisory LLC’s holdings in The PNC Financial Services Group were worth $911,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fifth Third Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 2.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 27,584 shares of the financial services provider’s stock worth $5,740,000 after purchasing an additional 670 shares during the period. OP Asset Management Ltd acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at $8,744,000. Apella Capital LLC raised its stake in The PNC Financial Services Group by 156.9% during the 1st quarter. Apella Capital LLC now owns 6,180 shares of the financial services provider’s stock valued at $1,389,000 after purchasing an additional 3,774 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of The PNC Financial Services Group by 179.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,330,687 shares of the financial services provider’s stock valued at $276,903,000 after purchasing an additional 854,901 shares in the last quarter. Finally, Godsey & Gibb Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.5% in the first quarter. Godsey & Gibb Inc. now owns 120,517 shares of the financial services provider’s stock valued at $25,078,000 after purchasing an additional 599 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PNC shares. Jefferies Financial Group started coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.39.

The PNC Financial Services Group Stock Up 0.3%

PNC opened at $245.61 on Monday. The firm has a market cap of $98.63 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The business has a 50 day moving average price of $224.53 and a 200 day moving average price of $219.27. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $249.01.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the company posted $3.51 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

About The PNC Financial Services Group

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.