Quotient Wealth Partners LLC Buys 1,232 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Quotient Wealth Partners LLC boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 56.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,415 shares of the financial services provider’s stock after purchasing an additional 1,232 shares during the quarter. Quotient Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors grew its position in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after buying an additional 78,407 shares during the last quarter. Norges Bank purchased a new position in The PNC Financial Services Group in the fourth quarter worth $1,039,481,000. Franklin Resources Inc. increased its position in shares of The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after purchasing an additional 3,046,226 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares during the last quarter. Finally, Putnam Investments LLC boosted its position in shares of The PNC Financial Services Group by 3.2% in the 4th quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock worth $568,662,000 after purchasing an additional 114,960 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC traded up $3.18 during trading hours on Friday, reaching $178.10. 1,753,016 shares of the company were exchanged, compared to its average volume of 1,905,029. The stock’s 50-day moving average is $167.38 and its 200-day moving average is $158.21. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $182.84. The firm has a market cap of $70.79 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.92 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:PNCGet Free Report) last issued its quarterly 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 PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company posted $3.36 EPS. The PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Analyst Ratings Changes

A number of equities research analysts have commented on PNC shares. UBS Group increased their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Royal Bank of Canada upped their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. dropped 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 note on Wednesday, May 1st. Finally, Barclays raised their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $177.02.

Check Out Our Latest Analysis on The PNC Financial Services Group

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction 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 legal filing with the SEC, which is available at the SEC website. In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 564,637 shares in the company, valued at $90,341,920. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,779 shares of company stock valued at $3,971,833. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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