Financial Insights Inc. Invests $48,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Financial Insights Inc. bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 250 shares of the financial services provider’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Usca Ria LLC grew its position in shares of The PNC Financial Services Group by 4.3% in the 2nd quarter. Usca Ria LLC now owns 13,950 shares of the financial services provider’s stock worth $2,661,000 after acquiring an additional 572 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter worth approximately $1,117,000. Sullivan Bruyette Speros & Blaney LLC grew its position in shares of The PNC Financial Services Group by 252.9% in the 1st quarter. Sullivan Bruyette Speros & Blaney LLC now owns 4,958 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 3,553 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of The PNC Financial Services Group by 28.8% in the 1st quarter. D.A. Davidson & CO. now owns 145,053 shares of the financial services provider’s stock worth $25,444,000 after acquiring an additional 32,459 shares in the last quarter. Finally, Atria Investments LLC grew its position in shares of The PNC Financial Services Group by 2.9% in the 1st quarter. Atria Investments LLC now owns 34,347 shares of the financial services provider’s stock worth $6,025,000 after acquiring an additional 958 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

In related news, EVP Michael J. Hannon sold 4,200 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 21st. The stock was sold at an average price of $184.16, for a total value of $773,472.00. Following the transaction, the executive vice president now directly owns 47,625 shares in the company, valued at approximately $8,770,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 4,700 shares of company stock worth $869,092 over the last 90 days. Insiders own 0.30% of the company’s stock.

Shares of PNC stock traded down $6.17 during mid-day trading on Monday, hitting $182.75. 51,161 shares of the stock traded hands, compared to its average volume of 1,766,488. The PNC Financial Services Group, Inc. has a twelve month low of $101.58 and a twelve month high of $203.88. The firm has a market cap of $77.64 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. The company’s 50-day simple moving average is $188.26 and its 200-day simple moving average is $186.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.77 by ($0.34). The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.40 billion. The PNC Financial Services Group had a net margin of 32.72% and a return on equity of 12.53%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $8.40 earnings per share. Analysts forecast that The PNC Financial Services Group, Inc. will post 14.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 5th. Investors of record on Friday, July 16th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Thursday, July 15th. The PNC Financial Services Group’s payout ratio is presently 78.62%.

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on The PNC Financial Services Group from $192.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 29th. Credit Suisse Group raised their price target on The PNC Financial Services Group from $190.00 to $192.00 and gave the stock a “neutral” rating in a report on Monday, July 19th. Evercore ISI initiated coverage on The PNC Financial Services Group in a report on Wednesday, June 2nd. They issued an “outperform” rating on the stock. Royal Bank of Canada raised their price target on The PNC Financial Services Group from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 15th. Finally, Odeon Capital Group downgraded The PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Monday, July 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $184.20.

About The PNC Financial Services Group

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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

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