DekaBank Deutsche Girozentrale Has $17.35 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

DekaBank Deutsche Girozentrale increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% in the first quarter, HoldingsChannel reports. The firm owned 109,988 shares of the financial services provider’s stock after purchasing 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 reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PNC. V Square Quantitative Management LLC increased its holdings in The PNC Financial Services Group by 23.3% during the 1st quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock valued at $1,371,000 after purchasing an additional 1,604 shares in the last quarter. Trust Point Inc. bought a new stake in The PNC Financial Services Group during the 4th quarter worth about $459,000. Cerity Partners LLC increased its position in The PNC Financial Services Group by 15.0% in the 4th quarter. Cerity Partners LLC now owns 112,831 shares of the financial services provider’s stock valued at $17,472,000 after acquiring an additional 14,750 shares in the last quarter. Vaughan David Investments LLC IL lifted its position in shares of The PNC Financial Services Group by 5.7% during the fourth quarter. Vaughan David Investments LLC IL now owns 251,447 shares of the financial services provider’s stock worth $38,937,000 after purchasing an additional 13,648 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $1,200,000. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 21st. The shares were 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 directly owns 568,323 shares in the company, valued at $87,061,400.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,903 shares of company stock valued at $3,463,786. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 3.4 %

NYSE PNC traded down $5.99 on Friday, reaching $170.00. The company had a trading volume of 2,917,005 shares, compared to its average volume of 2,192,342. The company’s fifty day moving average is $162.13 and its 200-day moving average is $155.99. The firm has a market capitalization of $67.64 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $182.84.

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 the consensus estimate of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.36 earnings per share. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.02 earnings per share 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. Shareholders of record on Monday, July 15th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a yield of 3.76%. The PNC Financial Services Group’s payout ratio is 53.74%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PNC. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Bank of America boosted their price objective on The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Barclays raised their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Royal Bank of Canada raised their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley increased their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $176.09.

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.