The PNC Financial Services Group, Inc. (NYSE:PNC) Position Lifted by Kathmere Capital Management LLC

Kathmere Capital Management LLC raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 5,420 shares of the financial services provider’s stock after acquiring an additional 1,172 shares during the period. Kathmere Capital Management LLC’s holdings in The PNC Financial Services Group were worth $876,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Rockline Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $1,825,000. KPP Advisory Services LLC bought a new position in The PNC Financial Services Group during the third quarter worth $323,000. AQR Capital Management LLC boosted its holdings in The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares during the period. Trust Point Inc. bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $295,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC stock opened at $155.48 on Friday. The company has a 50-day simple moving average of $155.18 and a 200 day simple moving average of $152.82. The company has a market capitalization of $61.87 billion, a P/E ratio of 13.05, a PEG ratio of 2.17 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNC. Jefferies Financial Group decreased their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company increased their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $158.43.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction 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 owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

About The PNC Financial Services Group

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.