Powers Advisory Group LLC Raises Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Powers Advisory Group LLC grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,365 shares of the financial services provider’s stock after buying an additional 325 shares during the period. Powers Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Smithbridge Asset Management Inc. DE purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth $896,000. NorthCrest Asset Manangement LLC grew its stake in shares of The PNC Financial Services Group by 15.0% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 4,883 shares of the financial services provider’s stock worth $858,000 after buying an additional 638 shares in the last quarter. Rockland Trust Co. grew its stake in shares of The PNC Financial Services Group by 7.5% in the 1st quarter. Rockland Trust Co. now owns 10,446 shares of the financial services provider’s stock worth $1,836,000 after buying an additional 726 shares in the last quarter. Davis Investment Partners LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth $478,000. Finally, apricus wealth LLC boosted its stake in shares of The PNC Financial Services Group by 1.5% during the 1st quarter. apricus wealth LLC now owns 13,197 shares of the financial services provider’s stock worth $2,320,000 after purchasing an additional 200 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 2.6%

NYSE:PNC opened at $173.18 on Friday. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $68.50 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.55 and a beta of 1.06. The firm has a 50-day simple moving average of $167.04 and a 200-day simple moving average of $182.46.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PNC. Morgan Stanley dropped their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. TD Cowen began coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They set a “buy” rating and a $233.00 price target for the company. Keefe, Bruyette & Woods dropped their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research note on Wednesday, April 16th. Finally, Citigroup dropped their price target 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

Insider Activity

In other news, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the purchase, the director now directly owns 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $174.78, for a total transaction of $217,076.76. Following the transaction, the chief executive officer now owns 564,815 shares of the company’s stock, valued at approximately $98,718,365.70. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,912 shares of company stock worth $2,313,022. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group 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.