Los Angeles Capital Management & Equity Research Inc. Has $21.69 Million Stock Holdings in PNC Financial Services Group Inc (NYSE:PNC)

Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 158,013 shares of the financial services provider’s stock after purchasing an additional 1,250 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in PNC Financial Services Group were worth $21,692,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC raised its stake in PNC Financial Services Group by 3.8% in the first quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock valued at $1,382,040,000 after buying an additional 407,250 shares during the period. Geode Capital Management LLC raised its stake in PNC Financial Services Group by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock valued at $647,356,000 after buying an additional 323,714 shares during the period. American Century Companies Inc. raised its stake in PNC Financial Services Group by 8.9% in the first quarter. American Century Companies Inc. now owns 4,353,354 shares of the financial services provider’s stock valued at $533,982,000 after buying an additional 357,041 shares during the period. Dimensional Fund Advisors LP raised its stake in PNC Financial Services Group by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,981,897 shares of the financial services provider’s stock valued at $348,594,000 after buying an additional 41,309 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in PNC Financial Services Group by 8.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,701,775 shares of the financial services provider’s stock valued at $331,399,000 after buying an additional 208,959 shares during the period. 80.59% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Michael J. Hannon sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $138.41, for a total transaction of $692,050.00. Following the transaction, the insider now owns 52,417 shares in the company, valued at $7,255,036.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 75,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $140.63, for a total value of $10,547,250.00. Following the transaction, the chief executive officer now owns 657,179 shares in the company, valued at approximately $92,419,082.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,242 shares of company stock worth $19,853,468. 0.37% of the stock is owned by corporate insiders.

Shares of NYSE PNC traded up $0.75 during trading hours on Friday, reaching $132.34. 2,023,469 shares of the stock were exchanged, compared to its average volume of 2,112,547. The company has a market cap of $58.59 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. PNC Financial Services Group Inc has a 52 week low of $108.45 and a 52 week high of $147.00. The company’s fifty day simple moving average is $138.63.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.05. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.72 earnings per share. On average, research analysts predict that PNC Financial Services Group Inc will post 11.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 19th were paid a dividend of $1.15 per share. The ex-dividend date was Thursday, July 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.48%. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. PNC Financial Services Group’s dividend payout ratio (DPR) is 42.95%.

Several analysts have issued reports on PNC shares. JPMorgan Chase & Co. upped their price objective on PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Morgan Stanley dropped their price objective on PNC Financial Services Group from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Finally, Barclays upped their price objective on PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $142.99.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

See Also: Fundamental Analysis

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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