The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,988 shares of the financial services provider’s stock after acquiring an additional 3,249 shares during the period. DekaBank Deutsche Girozentrale’s holdings in The PNC Financial Services Group were worth $17,346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PNC. Cambridge Trust Co. lifted its holdings in The PNC Financial Services Group by 1.0% during the 1st quarter. Cambridge Trust Co. now owns 85,823 shares of the financial services provider’s stock worth $13,869,000 after buying an additional 879 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of The PNC Financial Services Group by 127.4% in the first quarter. Cetera Advisors LLC now owns 46,325 shares of the financial services provider’s stock valued at $7,486,000 after acquiring an additional 25,954 shares in the last quarter. Cetera Investment Advisers boosted its holdings in The PNC Financial Services Group by 116.1% in the first quarter. Cetera Investment Advisers now owns 112,583 shares of the financial services provider’s stock valued at $18,193,000 after purchasing an additional 60,492 shares during the period. PGGM Investments acquired a new position in The PNC Financial Services Group during the 1st quarter worth $510,000. Finally, Atria Investments Inc raised its position in The PNC Financial Services Group by 6.8% in the 1st quarter. Atria Investments Inc now owns 73,379 shares of the financial services provider’s stock valued at $11,858,000 after purchasing an additional 4,684 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PNC shares. JPMorgan Chase & Co. cut their target price on shares of 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. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Jefferies Financial Group increased their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $176.09.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $5.99 during mid-day trading on Friday, hitting $170.00. 2,917,005 shares of the company’s stock were exchanged, compared to its average volume of 2,192,342. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $182.84. The business’s 50 day moving average is $162.13 and its two-hundred day moving average is $155.99. The firm has a market capitalization of $67.64 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.26 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the firm earned $3.36 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.02 earnings per share 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 paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold a total of 19,903 shares of company stock worth $3,463,786 over the last ninety days. 0.42% of the stock is currently 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.