Envestnet Portfolio Solutions Inc. Buys 810 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Envestnet Portfolio Solutions Inc. raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,512 shares of the financial services provider’s stock after acquiring an additional 810 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in The PNC Financial Services Group were worth $6,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PNC. Creative Planning lifted its holdings in shares of The PNC Financial Services Group by 17.9% during the third quarter. Creative Planning now owns 59,227 shares of the financial services provider’s stock worth $7,271,000 after buying an additional 9,008 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in The PNC Financial Services Group by 7.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 13,755 shares of the financial services provider’s stock valued at $1,689,000 after purchasing an additional 969 shares during the period. Hudson Bay Capital Management LP grew its position in shares of The PNC Financial Services Group by 39.2% during the 3rd quarter. Hudson Bay Capital Management LP now owns 83,500 shares of the financial services provider’s stock worth $10,251,000 after purchasing an additional 23,500 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of The PNC Financial Services Group by 0.9% during the third quarter. Raleigh Capital Management Inc. now owns 14,898 shares of the financial services provider’s stock worth $1,829,000 after purchasing an additional 140 shares during the period. Finally, Sunbelt Securities Inc. raised its position in shares of The PNC Financial Services Group by 9.1% in the third quarter. Sunbelt Securities Inc. now owns 3,496 shares of the financial services provider’s stock valued at $429,000 after buying an additional 292 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.2 %

The PNC Financial Services Group stock traded up $0.26 during trading hours on Friday, hitting $168.56. The stock had a trading volume of 2,416,412 shares, compared to its average volume of 1,890,875. The business’s 50 day simple moving average is $155.92 and its 200-day simple moving average is $153.43. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $169.68. The stock has a market cap of $67.07 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.68 and a beta of 1.15. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $3.98 EPS. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.67 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The disclosure for this sale can be found here. Insiders have sold a total of 5,177 shares of company stock valued at $814,791 over the last 90 days. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on PNC shares. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. UBS Group upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $179.00 in a research note on Monday. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $159.63.

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.