First Trust Direct Indexing L.P. Boosts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

First Trust Direct Indexing L.P. grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,057 shares of the financial services provider’s stock after purchasing an additional 1,102 shares during the period. First Trust Direct Indexing L.P.’s holdings in The PNC Financial Services Group were worth $1,787,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PNC. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $26,000. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $28,000. Householder Group Estate & Retirement Specialist LLC grew its position in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Finally, Core Wealth Advisors Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $31,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $157.79 on Friday. The company has a 50-day simple moving average of $155.24 and a two-hundred day simple moving average of $153.09. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The firm has a market cap of $62.79 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 2.25 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 released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the company posted $3.98 EPS. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be issued a $1.60 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 4.06%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Activity

In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred 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 $87,061,400.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 641 shares of the 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 completion of the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,132 shares of company stock valued at $328,809. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PNC shares. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. dropped their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Jefferies Financial Group lifted their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $158.56.

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.