Mutual of America Capital Management LLC Has $7.80 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mutual of America Capital Management LLC lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,179 shares of the financial services provider’s stock after selling 2,007 shares during the quarter. Mutual of America Capital Management LLC’s holdings in The PNC Financial Services Group were worth $7,802,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Gilbert & Cook Inc. raised its position in The PNC Financial Services Group by 3.7% in the 4th quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after buying an additional 107 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $228,000. ING Groep NV raised its position in The PNC Financial Services Group by 13.1% in the 4th quarter. ING Groep NV now owns 1,679 shares of the financial services provider’s stock valued at $260,000 after buying an additional 194 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $235,000. Finally, Assetmark Inc. raised its position in The PNC Financial Services Group by 12.4% in the 4th quarter. Assetmark Inc. now owns 67,030 shares of the financial services provider’s stock valued at $10,380,000 after buying an additional 7,405 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $187.16 on Friday. The stock has a market capitalization of $74.47 billion, a PE ratio of 15.71, a P/E/G ratio of 1.97 and a beta of 1.14. 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 business has a fifty day moving average price of $176.75 and a two-hundred day moving average price of $162.68. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last announced 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 firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $3.36 EPS. As a group, equities analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a $1.60 dividend. The ex-dividend date was Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a yield of 3.42%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the transaction, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at approximately $89,649,182.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the completion of the transaction, the chief executive officer now owns 563,395 shares of the company’s stock, valued at approximately $94,368,662.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the transaction, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at approximately $89,649,182.10. The disclosure for this sale can be found here. Insiders sold 24,622 shares of company stock valued at $4,319,914 in the last three months. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley raised their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Evercore ISI raised their price target on 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 upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $176.90.

The PNC Financial Services Group 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.