One Capital Management LLC Purchases New Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

One Capital Management LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,979 shares of the financial services provider’s stock, valued at approximately $463,000.

Several other hedge funds have also recently bought and sold shares of PNC. Capital International Investors raised its holdings in The PNC Financial Services Group by 14.4% during the 4th quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after buying an additional 1,978,854 shares during the period. Capital Research Global Investors grew its stake 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 worth $738,039,000 after acquiring an additional 778,264 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of The PNC Financial Services Group by 4,040.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock worth $62,878,000 after acquiring an additional 396,252 shares in the last quarter. Jennison Associates LLC grew its stake in shares of The PNC Financial Services Group by 38.4% during the 1st quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after acquiring an additional 291,769 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of The PNC Financial Services Group by 448.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 269,206 shares of the financial services provider’s stock worth $41,856,000 after acquiring an additional 220,110 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNC. UBS Group raised their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Jefferies Financial Group raised their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Evercore ISI raised their target price on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $176.90.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the sale, the chief executive officer now owns 554,701 shares of the company’s stock, valued at $101,604,582.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Michael P. Lyons sold 11,000 shares of the business’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 completion of the transaction, the president now 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 SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the completion of the transaction, the chief executive officer now directly owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,263 shares of company stock valued at $4,418,109. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Up 0.3 %

PNC stock opened at $181.49 on Wednesday. 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 company has a fifty day moving average price of $176.01 and a two-hundred day moving average price of $162.36. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $185.84. The stock has a market cap of $72.22 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm earned $3.36 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Equities 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 company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.53%. 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 53.74%.

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.