MASTERINVEST Kapitalanlage GmbH Makes New Investment in The PNC Financial Services Group, Inc $PNC

MASTERINVEST Kapitalanlage GmbH 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 3,509 shares of the financial services provider’s stock, valued at approximately $864,000.

A number of other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the last quarter. Empowered Funds LLC lifted its holdings in The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after acquiring an additional 170 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in The PNC Financial Services Group by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock valued at $34,409,000 after acquiring an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC acquired a new position in The PNC Financial Services Group in the second quarter valued at approximately $482,000. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stacy M. Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 6,654 shares of company stock worth $1,627,011. 0.38% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Down 0.5%

Shares of NYSE:PNC opened at $242.24 on Friday. The company has a 50 day moving average of $249.40 and a 200-day moving average of $229.61. The firm has a market cap of $96.64 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.97 and a beta of 0.91. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $258.96. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the business earned $3.85 earnings per share. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were given a dividend of $2.00 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group’s payout ratio is 44.03%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Oppenheimer raised their price target on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. Citigroup increased their target price on The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Barclays raised their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Stephens boosted their target price on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $265.73.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.