Farther Finance Advisors LLC Has $1.13 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Farther Finance Advisors LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,467 shares of the financial services provider’s stock after purchasing an additional 457 shares during the quarter. Farther Finance Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,129,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PNC. Vanguard Group Inc. lifted its stake in The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock valued at $7,273,794,000 after buying an additional 268,827 shares in the last quarter. Franklin Resources Inc. raised its position in The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after acquiring an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the period. Norges Bank bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $1,352,151,000. Finally, Northern Trust Corp raised its position in shares of The PNC Financial Services Group by 14.9% in the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock valued at $905,530,000 after purchasing an additional 608,375 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the purchase, the director now owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $174.78, for a total value of $217,076.76. Following the sale, the chief executive officer now owns 564,815 shares in the company, valued at approximately $98,718,365.70. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,912 shares of company stock valued at $2,313,022. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PNC. Citigroup decreased their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. The Goldman Sachs Group decreased their price target 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. Royal Bank of Canada decreased their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Finally, Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $202.67.

The PNC Financial Services Group Trading Down 0.0%

PNC opened at $177.70 on Friday. The company’s 50 day moving average is $166.56 and its 200-day moving average is $182.74. The company has a market cap of $70.29 billion, a P/E ratio of 12.92, a PEG ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share 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. Investors of record on Wednesday, April 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is currently 45.20%.

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.