Capital International Sarl Raises Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital International Sarl raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 122.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,917 shares of the financial services provider’s stock after acquiring an additional 8,760 shares during the quarter. Capital International Sarl’s holdings in The PNC Financial Services Group were worth $2,572,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PNC. V Square Quantitative Management LLC lifted its position in shares of 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 worth $1,371,000 after buying an additional 1,604 shares during the last quarter. Trust Point Inc. acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $459,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $295,000. Cerity Partners LLC increased its holdings in shares of 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 during the period. Finally, Vaughan David Investments LLC IL increased its holdings in shares of The PNC Financial Services Group by 5.7% in the 4th quarter. Vaughan David Investments LLC IL now owns 251,447 shares of the financial services provider’s stock valued at $38,937,000 after acquiring an additional 13,648 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent research reports. Royal Bank of Canada boosted 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. Barclays boosted their price objective 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. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $175.34.

The PNC Financial Services Group Trading Up 0.7 %

Shares of PNC stock traded up $1.21 during trading hours on Friday, hitting $181.21. 1,794,206 shares of the company were exchanged, compared to its average volume of 1,928,252. The firm has a market cap of $72.11 billion, a PE ratio of 15.21, a PEG ratio of 2.28 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $182.51. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm has a fifty day moving average of $159.91 and a 200 day moving average of $155.09.

The PNC Financial Services Group (NYSE:PNC) last announced 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 business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.36 EPS. Analysts expect that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares of the company’s stock, valued at approximately $99,315,570.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 564,637 shares of the company’s stock, valued at $90,341,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the sale, the chief executive officer now directly owns 562,153 shares of the company’s stock, valued at approximately $99,315,570.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,661 shares of company stock valued at $1,242,250. 0.42% of the stock is currently owned by corporate insiders.

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.