The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 76,967 shares of the financial services provider’s stock after buying an additional 9,487 shares during the period. Van ECK Associates Corp’s holdings in The PNC Financial Services Group were worth $12,438,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in 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 acquiring an additional 140 shares in the last quarter. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $28,000. Finally, Fortis Group Advisors LLC lifted its stake in 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 in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Jefferies Financial Group increased their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $158.56.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,132 shares of company stock worth $328,809. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 1.0 %

Shares of PNC traded down $1.56 during mid-day trading on Friday, reaching $156.23. The company’s stock had a trading volume of 491,086 shares, compared to its average volume of 1,874,285. The company’s 50 day moving average is $155.24 and its 200 day moving average is $153.09. The stock has a market cap of $62.17 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 2.25 and a beta of 1.15. 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 PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.98 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Monday, July 15th. This is an increase 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 52.06%.

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.