The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 34.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,999 shares of the financial services provider’s stock after purchasing an additional 1,031 shares during the quarter. Atomi Financial Group Inc.’s holdings in The PNC Financial Services Group were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital International Investors increased its holdings 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 valued at $2,556,195,000 after acquiring an additional 78,407 shares during the period. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $1,039,481,000. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 165.4% in the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after acquiring an additional 3,046,226 shares during the period. Capital Research Global Investors increased its stake in The PNC Financial Services Group by 19.5% in 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 buying an additional 778,264 shares during the period. Finally, Putnam Investments LLC increased its stake in 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 valued at $568,662,000 after buying an additional 114,960 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC traded up $1.59 during trading hours on Wednesday, hitting $180.74. The company had a trading volume of 159,636 shares, compared to its average volume of 1,885,696. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $182.84. 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 business has a fifty day simple moving average of $167.89 and a 200-day simple moving average of $158.55. The firm has a market cap of $71.92 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.92 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $3.36 earnings per share. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a dividend of $1.60 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Buying and Selling

In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at approximately $97,929,359.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The disclosure for this sale can be found here. Insiders have sold a total of 24,021 shares of company stock valued at $4,190,611 over the last three months. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada upped their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. UBS Group upped their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $177.02.

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.