Checchi Capital Advisers LLC Increases Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Checchi Capital Advisers LLC lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,169 shares of the financial services provider’s stock after buying an additional 94 shares during the quarter. Checchi Capital Advisers LLC’s holdings in The PNC Financial Services Group were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares during the period. Fisher Asset Management LLC grew its stake in The PNC Financial Services Group by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 3,737 shares of the financial services provider’s stock worth $721,000 after purchasing an additional 143 shares during the period. SBI Securities Co. Ltd. purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $191,000. Steward Partners Investment Advisory LLC grew its position in shares of The PNC Financial Services Group by 40.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,674 shares of the financial services provider’s stock worth $3,023,000 after buying an additional 4,515 shares during the period. Finally, Cookson Peirce & Co. Inc. grew its position in shares of The PNC Financial Services Group by 209.4% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 5,690 shares of the financial services provider’s stock worth $1,097,000 after buying an additional 3,851 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNC has been the subject of a number of recent research reports. TD Cowen began coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a “buy” rating and a $233.00 price target for the company. Royal Bank Of Canada cut their price target on 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 The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Citigroup lowered their price objective on 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. Finally, Keefe, Bruyette & Woods lowered their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.35.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the purchase, the director directly owned 2,009 shares of the company’s stock, valued at approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 10,787 shares of company stock valued at $1,782,794. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Down 0.3%

PNC stock opened at $195.10 on Friday. The business’s 50-day moving average is $175.10 and its two-hundred day moving average is $180.09. The company has a market cap of $77.18 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.65 and a beta of 1.07. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The company 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 17.68% and a return on equity of 10.95%. As a group, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.49%. The PNC Financial Services Group’s payout ratio is presently 45.20%.

About The PNC Financial Services Group

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.