Chartwell Investment Partners LLC grew its stake in PNC Financial Services Group Inc (NYSE:PNC) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,889 shares of the financial services provider’s stock after buying an additional 1,230 shares during the quarter. Chartwell Investment Partners LLC’s holdings in PNC Financial Services Group were worth $5,038,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Michigan Retirement System boosted its holdings in PNC Financial Services Group by 7.8% in the 2nd quarter. State of Michigan Retirement System now owns 108,347 shares of the financial services provider’s stock worth $11,399,000 after buying an additional 7,871 shares during the period. Duality Advisers LP bought a new position in shares of PNC Financial Services Group in the second quarter worth about $1,707,000. Sciencast Management LP grew its position in shares of PNC Financial Services Group by 154.4% during the second quarter. Sciencast Management LP now owns 8,400 shares of the financial services provider’s stock worth $848,000 after purchasing an additional 5,098 shares in the last quarter. Pacer Advisors Inc. bought a new stake in PNC Financial Services Group during the 2nd quarter valued at approximately $3,741,000. Finally, GWM Advisors LLC lifted its holdings in PNC Financial Services Group by 17.0% in the 2nd quarter. GWM Advisors LLC now owns 172,060 shares of the financial services provider’s stock worth $18,102,000 after purchasing an additional 24,988 shares in the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.
PNC stock opened at $106.67 on Friday. The stock has a market cap of $45.26 billion, a PE ratio of 6.56, a P/E/G ratio of 4.15 and a beta of 1.29. PNC Financial Services Group Inc has a 12 month low of $79.41 and a 12 month high of $161.79. The company has a 50-day moving average price of $105.18 and a 200 day moving average price of $116.06. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.
PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported ($1.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($2.78). PNC Financial Services Group had a net margin of 35.52% and a return on equity of 5.78%. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the firm earned $2.88 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts forecast that PNC Financial Services Group Inc will post 3.67 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Friday, July 17th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, July 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.39%.
In other PNC Financial Services Group news, Director Richard J. Harshman bought 1,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $97.55 per share, for a total transaction of $97,550.00. Following the completion of the transaction, the director now owns 1,150 shares in the company, valued at $112,182.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Nomura Securities upgraded shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $114.00 in a research report on Thursday, April 16th. Standpoint Research began coverage on shares of PNC Financial Services Group in a research note on Monday, May 18th. They issued an “accumulate” rating on the stock. Oppenheimer restated a “hold” rating on shares of PNC Financial Services Group in a research report on Wednesday, July 15th. Bank of America decreased their target price on PNC Financial Services Group from $138.00 to $123.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Finally, Stephens upgraded PNC Financial Services Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 12th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $124.21.
PNC Financial Services Group Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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