The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Duality Advisers LP

Duality Advisers LP boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 108.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,641 shares of the financial services provider’s stock after purchasing an additional 10,743 shares during the period. Duality Advisers LP’s holdings in The PNC Financial Services Group were worth $3,336,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $1,039,481,000. Franklin Resources Inc. boosted its holdings in The PNC Financial Services Group by 165.4% in the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after purchasing an additional 3,046,226 shares in the last quarter. Capital International Investors boosted its holdings in The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after purchasing an additional 1,978,854 shares in the last quarter. Capital Research Global Investors boosted its holdings in The PNC Financial Services Group by 19.5% in the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after purchasing an additional 639,903 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded up $1.18 during mid-day trading on Friday, hitting $169.48. 1,332,454 shares of the stock were exchanged, compared to its average volume of 1,882,582. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $67.44 billion, a P/E ratio of 14.13, a PEG ratio of 1.68 and a beta of 1.15. The stock’s fifty day simple moving average is $155.92 and its two-hundred day simple moving average is $153.43. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $169.60.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly 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 business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.98 earnings per share. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be issued a $1.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.78%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. Insiders sold a total of 5,177 shares of company stock valued at $814,791 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PNC. Wells Fargo & Company upped their price objective on shares of 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. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Bank of America upped their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $159.63.

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.