Interval Partners LP Has $37.52 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Interval Partners LP grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 22.9% during the 1st quarter, Holdings Channel reports. The firm owned 232,198 shares of the financial services provider’s stock after buying an additional 43,264 shares during the period. The PNC Financial Services Group comprises about 1.1% of Interval Partners LP’s investment portfolio, making the stock its 15th biggest position. Interval Partners LP’s holdings in The PNC Financial Services Group were worth $37,523,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Core Wealth Advisors Inc. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $31,000. Finally, Fortis Group Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded up $0.98 during trading on Tuesday, reaching $181.98. 1,627,247 shares of the company traded hands, compared to its average volume of 1,925,256. The company’s 50 day moving average is $160.39 and its two-hundred day moving average is $155.29. The firm has a market capitalization of $72.41 billion, a PE ratio of 15.31, a PEG ratio of 2.33 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $182.84.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.36 EPS. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.52%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the completion of the sale, the chief executive officer now directly owns 560,911 shares in the company, valued at approximately $101,233,217.28. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the transaction, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 2,404 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the sale, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The disclosure for this sale can be found here. In the last three months, insiders sold 8,903 shares of company stock worth $1,466,406. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Bank of America lifted their target price on The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Evercore ISI lifted their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $176.09.

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.