10,210 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,210 shares of the financial services provider’s stock, valued at approximately $1,589,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $266,000. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of The PNC Financial Services Group by 7.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,348 shares of the financial services provider’s stock worth $1,448,000 after buying an additional 620 shares in the last quarter. Syon Capital LLC boosted its holdings in shares of The PNC Financial Services Group by 16.8% in the 4th quarter. Syon Capital LLC now owns 1,948 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 280 shares in the last quarter. Transcend Capital Advisors LLC grew its position in The PNC Financial Services Group by 2.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,244 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 89 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC increased its holdings in The PNC Financial Services Group by 16.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 4,582 shares of the financial services provider’s stock valued at $710,000 after purchasing an additional 662 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Evercore ISI boosted their price objective 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. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Barclays raised their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on shares of 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. Finally, Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $177.02.

Insider Buying and Selling

In related news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,779 shares of company stock worth $3,971,833. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Up 0.5 %

NYSE PNC traded up $0.90 during mid-day trading on Monday, reaching $179.00. 367,276 shares of the stock were exchanged, compared to its average volume of 1,895,658. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $71.23 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.92 and a beta of 1.15. The stock has a 50 day simple moving average of $167.38 and a 200-day simple moving average of $158.34. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $182.84.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business posted $3.36 EPS. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was 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%.

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.