Steward Partners Investment Advisory LLC Boosts Stake in PNC Financial Services Group Inc (NYSE:PNC)

Steward Partners Investment Advisory LLC lifted its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 33.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,089 shares of the financial services provider’s stock after acquiring an additional 1,526 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in PNC Financial Services Group were worth $835,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of PNC Financial Services Group during the 1st quarter worth about $25,000. Field & Main Bank acquired a new position in shares of PNC Financial Services Group during the 1st quarter worth about $25,000. Penserra Capital Management LLC acquired a new position in shares of PNC Financial Services Group during the 1st quarter worth about $25,000. IMA Wealth Inc. acquired a new position in shares of PNC Financial Services Group during the 1st quarter worth about $25,000. Finally, Westside Investment Management Inc. acquired a new position in shares of PNC Financial Services Group during the 2nd quarter worth about $29,000. 80.59% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Stacy M. Juchno sold 710 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $141.90, for a total value of $100,749.00. Following the completion of the sale, the executive vice president now owns 4,583 shares of the company’s stock, valued at approximately $650,327.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 75,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $140.63, for a total transaction of $10,547,250.00. Following the completion of the sale, the chief executive officer now directly owns 657,179 shares of the company’s stock, valued at approximately $92,419,082.77. The disclosure for this sale can be found here. In the last three months, insiders sold 141,242 shares of company stock valued at $19,853,468. Corporate insiders own 0.37% of the company’s stock.

PNC stock traded up $0.75 during mid-day trading on Friday, reaching $132.34. The company’s stock had a trading volume of 2,023,469 shares, compared to its average volume of 2,112,547. The stock has a market cap of $58.59 billion, a PE ratio of 12.36, a PEG ratio of 1.71 and a beta of 1.07. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. PNC Financial Services Group Inc has a fifty-two week low of $108.45 and a fifty-two week high of $147.00. The company’s 50 day moving average price is $138.63.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the prior year, the company posted $2.72 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts forecast that PNC Financial Services Group Inc will post 11.29 earnings per share for the current year.

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

A number of analysts have commented on the stock. ValuEngine downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley cut their price objective on shares of PNC Financial Services Group from $142.00 to $136.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Finally, Barclays increased their price objective on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $142.99.

PNC Financial Services Group Company 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.

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

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