The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Increased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,057 shares of the financial services provider’s stock after purchasing an additional 1,102 shares during the period. First Trust Direct Indexing L.P.’s holdings in The PNC Financial Services Group were worth $1,787,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PNC. AQR Capital Management LLC increased its stake in The PNC Financial Services Group by 144.2% in the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of The PNC Financial Services Group in the third quarter worth approximately $351,000. Legacy Advisors LLC boosted its stake in The PNC Financial Services Group by 0.8% in the 3rd quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after purchasing an additional 84 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of The PNC Financial Services Group by 1.2% during the third quarter. Lake Street Advisors Group LLC now owns 11,139 shares of the financial services provider’s stock valued at $1,368,000 after buying an additional 134 shares in the last quarter. Finally, KPP Advisory Services LLC acquired a new position in The PNC Financial Services Group during the third quarter valued at $323,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Bank of America increased their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Jefferies Financial Group upped their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $158.56.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $157.79 on Friday. The company has a market capitalization of $62.79 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 2.25 and a beta of 1.15. The company has a 50-day moving average of $155.24 and a 200-day moving average of $153.09. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.98 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be paid a $1.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.06%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Insiders have sold 2,132 shares of company stock valued at $328,809 in the last three months. 0.42% of the stock is owned by corporate insiders.

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.