KRS Capital Management LLC Makes New $203,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

KRS Capital Management LLC acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,253 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors have also recently made changes to their positions in the company. Steph & Co. lifted its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 67 shares during the last quarter. Bangor Savings Bank lifted its holdings in The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after buying an additional 69 shares in the last quarter. Triangle Securities Wealth Management lifted its holdings in The PNC Financial Services Group by 1.8% during the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after buying an additional 70 shares in the last quarter. Cooper Financial Group lifted its holdings in The PNC Financial Services Group by 1.7% during the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after buying an additional 70 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in The PNC Financial Services Group by 1.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock valued at $804,000 after buying an additional 74 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PNC. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Jefferies Financial Group reduced their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Bank of America boosted their price target 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. 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 given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.43.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following 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. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $3.55 during trading hours on Friday, reaching $155.48. 2,706,290 shares of the company’s stock were exchanged, compared to its average volume of 1,482,709. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a market capitalization of $61.87 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The business has a fifty day moving average of $155.18 and a two-hundred day moving average of $152.82. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

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.