1,253 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Bought by KRS Capital Management LLC

KRS Capital Management LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,253 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other hedge funds have also bought and sold shares of the company. Steph & Co. increased its stake in The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 67 shares in the last quarter. Bangor Savings Bank increased its stake in The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 69 shares in the last quarter. Triangle Securities Wealth Management increased its stake in The PNC Financial Services Group by 1.8% in the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 70 shares in the last quarter. Cooper Financial Group grew its holdings in shares of The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after buying an additional 70 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of The PNC Financial Services Group by 1.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock valued at $804,000 after buying an additional 74 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PNC. JPMorgan Chase & Co. reduced their price objective 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. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Evercore ISI lifted their price objective 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. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, Bank of America boosted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $158.43.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred 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 directly owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC traded up $3.55 during midday trading on Friday, reaching $155.48. The company had a trading volume of 2,706,290 shares, compared to its average volume of 1,482,709. 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 stock has a market cap of $61.87 billion, a PE ratio of 13.05, a P/E/G ratio of 2.17 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The business has a 50-day moving average price of $155.18 and a two-hundred day moving average price of $152.82.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 earnings per share. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

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.