Capital International Sarl Has $2.57 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital International Sarl lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 122.4% in the first quarter, HoldingsChannel.com reports. The firm owned 15,917 shares of the financial services provider’s stock after acquiring an additional 8,760 shares during the period. Capital International Sarl’s holdings in The PNC Financial Services Group were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PNC. Salem Investment Counselors Inc. grew its holdings in shares of The PNC Financial Services Group by 45.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 796 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 250 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 6.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 147,792 shares of the financial services provider’s stock worth $22,886,000 after purchasing an additional 8,642 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of The PNC Financial Services Group by 209.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 221,087 shares of the financial services provider’s stock worth $34,235,000 after purchasing an additional 149,656 shares during the last quarter. Schechter Investment Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 2.6% during the fourth quarter. Schechter Investment Advisors LLC now owns 5,361 shares of the financial services provider’s stock worth $830,000 after purchasing an additional 134 shares during the last quarter. Finally, Columbia Trust Co 01012016 grew its holdings in shares of The PNC Financial Services Group by 11.2% during the fourth quarter. Columbia Trust Co 01012016 now owns 9,762 shares of the financial services provider’s stock worth $1,512,000 after purchasing an additional 982 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 0.7 %

Shares of NYSE PNC traded up $1.21 during mid-day trading on Friday, reaching $181.21. 1,794,206 shares of the company’s stock were exchanged, compared to its average volume of 1,928,252. The business has a fifty day simple moving average of $159.91 and a 200 day simple moving average of $155.09. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $182.51. The firm has a market capitalization of $72.11 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.28 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm earned $3.36 EPS. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was 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 in the company, valued at $545,856.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $176.67, for a total value of $219,424.14. Following the completion of the transaction, the chief executive officer now directly owns 562,153 shares in the company, valued at $99,315,570.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,661 shares of company stock valued at $1,242,250. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Royal Bank of Canada raised their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Evercore ISI raised their price target on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Morgan Stanley decreased their price target on The PNC Financial Services Group from $167.00 to $165.00 and set an “underweight” rating on the stock in a report on Wednesday, July 17th. Finally, Citigroup increased their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $175.34.

The PNC Financial Services Group Company 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.