Dimensional Fund Advisors LP Buys 45,523 Shares of The PNC Financial Services Group, Inc $PNC

Dimensional Fund Advisors LP raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,070,265 shares of the financial services provider’s stock after purchasing an additional 45,523 shares during the period. Dimensional Fund Advisors LP’s holdings in The PNC Financial Services Group were worth $430,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in PNC. Parallel Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 2.9% in the first quarter. Parallel Advisors LLC now owns 3,547 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 99 shares during the last quarter. SEB Asset Management AB bought a new position in The PNC Financial Services Group during the first quarter valued at approximately $34,910,000. Valley Wealth Managers Inc. grew its holdings in The PNC Financial Services Group by 0.7% during the 1st quarter. Valley Wealth Managers Inc. now owns 25,044 shares of the financial services provider’s stock valued at $5,211,000 after buying an additional 180 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in The PNC Financial Services Group by 6.4% during the 1st quarter. Mediolanum International Funds Ltd now owns 143,604 shares of the financial services provider’s stock valued at $28,959,000 after buying an additional 8,634 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its position in shares of The PNC Financial Services Group by 2.9% during the 1st quarter. Ascent Wealth Partners LLC now owns 2,058 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 58 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This represents a 22.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,300 shares of company stock worth $10,694,574 over the last quarter. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 1.1%

The PNC Financial Services Group stock opened at $250.05 on Tuesday. The business has a fifty day moving average price of $233.88 and a 200-day moving average price of $223.82. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $256.49. The stock has a market capitalization of $100.41 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.01 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.39. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company earned $3.85 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 19.14 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a $2.00 dividend. The ex-dividend date is Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 37.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group began coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Oppenheimer lifted their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. upped their price objective on shares of The PNC Financial Services Group from $238.00 to $264.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Bank of America upped their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.50.

The PNC Financial Services Group Profile

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.