Nations Financial Group Inc. IA ADV Purchases 2,889 Shares of The PNC Financial Services Group, Inc $PNC

Nations Financial Group Inc. IA ADV increased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 119.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,307 shares of the financial services provider’s stock after purchasing an additional 2,889 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in The PNC Financial Services Group were worth $1,104,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PNC. Norges Bank bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $1,967,080,000. Viking Global Investors LP increased its stake in shares of The PNC Financial Services Group by 234.9% in the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after acquiring an additional 5,581,102 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of The PNC Financial Services Group by 961.7% in the 4th quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider’s stock worth $549,023,000 after acquiring an additional 2,382,552 shares in the last quarter. Deutsche Bank AG lifted its position in The PNC Financial Services Group by 108.2% during the 4th quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock valued at $800,884,000 after acquiring an additional 1,994,431 shares during the period. Finally, Wellington Management Group LLP lifted its position in The PNC Financial Services Group by 50.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after acquiring an additional 1,162,964 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% 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 valued at $10,694,574 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Bank of America boosted their price target on 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. Jefferies Financial Group initiated 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 target on the stock. Citigroup raised their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Oppenheimer lifted their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $246.72.

The PNC Financial Services Group Trading Up 1.8%

NYSE:PNC opened at $238.83 on Wednesday. The stock has a market cap of $95.91 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.96 and a beta of 0.92. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average price is $223.26 and its 200-day moving average price is $218.31. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the business earned $3.51 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis 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 presently 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.