3,360 Shares in The PNC Financial Services Group, Inc $PNC Purchased by Clear Trail Advisors LLC

Clear Trail Advisors LLC acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 3,360 shares of the financial services provider’s stock, valued at approximately $699,000.

A number of other hedge funds have also made changes to their positions in the company. Monetary Solutions Ltd purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of The PNC Financial Services Group during the third quarter worth approximately $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $32,000. Finally, EFG International AG acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This represents a 36.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president 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 disclosure for this sale is available in the SEC filing. Insiders have sold 48,300 shares of company stock worth $10,694,574 in the last ninety days. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PNC shares. Citigroup lifted their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Oppenheimer increased their target price on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Finally, Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $246.72.

The PNC Financial Services Group Stock Up 1.1%

Shares of PNC opened at $234.49 on Tuesday. The PNC Financial Services Group, Inc has a 52-week low of $176.16 and a 52-week high of $243.94. The company has a market capitalization of $94.16 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The stock has a fifty day simple moving average of $222.91 and a two-hundred day simple moving average of $218.02. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.51 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The PNC Financial Services Group’s payout ratio is 39.51%.

The PNC Financial Services Group Company 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.