1,521 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Bought by Advisor Resource Council

Advisor Resource Council purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,521 shares of the financial services provider’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital International Investors increased its stake 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 valued at $2,437,361,000 after purchasing an additional 1,978,854 shares in the last quarter. Norges Bank bought a new stake in The PNC Financial Services Group in the fourth quarter valued at $1,039,481,000. Franklin Resources Inc. increased its stake 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 valued at $756,957,000 after purchasing an additional 3,046,226 shares in the last quarter. Capital Research Global Investors increased its stake 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 valued at $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Finally, Morgan Stanley increased its stake in The PNC Financial Services Group by 1.0% in the third quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock valued at $473,767,000 after purchasing an additional 36,362 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

PNC traded down $1.05 during midday trading on Thursday, reaching $157.79. The company had a trading volume of 914,084 shares, compared to its average volume of 1,441,293. 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 $62.79 billion, a PE ratio of 13.25, a P/E/G ratio of 2.26 and a beta of 1.15. 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 $155.21 and a two-hundred day moving average price of $153.02.

The PNC Financial Services Group (NYSE:PNC) last released its 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 firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.98 earnings per share. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.06%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PNC shares. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Bank of America lifted their price objective 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. The Goldman Sachs Group lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.56.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the business’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 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 legal filing with the SEC, which is accessible through the SEC website. In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the business’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 transaction of $132,489.50. Following the completion of 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 have sold a total of 2,132 shares of company stock worth $328,809 over the last three months. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group 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.