4,028 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by AIA Group Ltd

AIA Group Ltd acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 1st quarter, HoldingsChannel reports. The fund acquired 4,028 shares of the financial services provider’s stock, valued at approximately $651,000.

Several other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its holdings in The PNC Financial Services Group by 2.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 37,512 shares of the financial services provider’s stock worth $6,062,000 after buying an additional 810 shares during the last quarter. Empirical Finance LLC boosted its holdings in The PNC Financial Services Group by 3.4% in the 1st quarter. Empirical Finance LLC now owns 14,801 shares of the financial services provider’s stock worth $2,392,000 after buying an additional 489 shares during the last quarter. Duality Advisers LP boosted its holdings in The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after buying an additional 10,743 shares during the last quarter. Ballast Inc. boosted its holdings in The PNC Financial Services Group by 7.5% in the 1st quarter. Ballast Inc. now owns 8,670 shares of the financial services provider’s stock worth $1,401,000 after buying an additional 605 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 21.4% during the 1st quarter. Manchester Capital Management LLC now owns 4,598 shares of the financial services provider’s stock worth $743,000 after purchasing an additional 811 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.2 %

NYSE PNC traded up $0.26 on Friday, reaching $168.56. The stock had a trading volume of 2,416,412 shares, compared to its average volume of 1,890,875. The firm has a market capitalization of $67.07 billion, a price-to-earnings ratio of 14.15, 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, Inc. has a 12-month low of $109.40 and a 12-month high of $169.68. The stock has a fifty day moving average price of $156.17 and a two-hundred day moving average price of $153.54.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results 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 company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.98 earnings per share. As a group, sell-side analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be given a $1.60 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 3.80%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $165.00 to $179.00 in a report on Monday. Evercore ISI boosted their target price on The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Jefferies Financial Group boosted their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $159.63.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the company’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 sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Richard Kevin Bynum sold 850 shares of the company’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 sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the sale, the chief executive officer now directly owns 564,637 shares in the company, valued at approximately $90,341,920. 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 quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Company Profile

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.