Apella Capital LLC Purchases 3,774 Shares of The PNC Financial Services Group, Inc $PNC

Apella Capital LLC boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 156.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,180 shares of the financial services provider’s stock after acquiring an additional 3,774 shares during the quarter. Apella Capital LLC’s holdings in The PNC Financial Services Group were worth $1,389,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Bank of America raised their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Barclays boosted their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Finally, Oppenheimer raised their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $247.39.

Insider Buying and Selling

In other news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 approximately $1,204,750.26. The trade was a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 48,300 shares of company stock worth $10,694,574. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $245.61 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a 50-day moving average of $224.53 and a 200-day moving average of $219.12. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $249.01. The company has a market cap of $98.63 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.01 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last posted its 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 PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter last year, the firm earned $3.51 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 2.8%. The PNC Financial Services Group’s dividend payout ratio is presently 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.