The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Kowal Investment Group LLC

Kowal Investment Group LLC lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,576 shares of the financial services provider’s stock after buying an additional 527 shares during the quarter. Kowal Investment Group LLC’s holdings in The PNC Financial Services Group were worth $416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockline Wealth Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $1,825,000. KPP Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the 3rd quarter valued at about $323,000. AQR Capital Management LLC grew its stake in The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after acquiring an additional 67,490 shares in the last quarter. Trust Point Inc. purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $295,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

PNC traded up $1.11 during midday trading on Monday, reaching $156.59. 771,317 shares of the company’s stock were exchanged, compared to its average volume of 1,890,666. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $62.31 billion, a PE ratio of 13.05, a P/E/G ratio of 2.22 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 $162.24. The business’s 50-day moving average price is $155.18 and its 200 day moving average price is $152.96.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $3.98 earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.96%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Bank of America increased 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 research note on Wednesday, April 17th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $158.43.

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.