Kathmere Capital Management LLC Raises Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kathmere Capital Management LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,792 shares of the financial services provider’s stock after purchasing an additional 1,372 shares during the quarter. Kathmere Capital Management LLC’s holdings in The PNC Financial Services Group were worth $1,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Scientech Research LLC boosted its stake in shares of The PNC Financial Services Group by 317.8% in the second quarter. Scientech Research LLC now owns 5,925 shares of the financial services provider’s stock worth $921,000 after buying an additional 4,507 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares in the last quarter. Lighthouse Investment Partners LLC lifted its stake in shares of The PNC Financial Services Group by 53.3% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 17,187 shares of the financial services provider’s stock valued at $2,672,000 after purchasing an additional 5,977 shares during the period. Marathon Capital Management boosted its holdings in The PNC Financial Services Group by 5.8% during the second quarter. Marathon Capital Management now owns 3,491 shares of the financial services provider’s stock worth $543,000 after buying an additional 190 shares in the last quarter. Finally, MBB Public Markets I LLC increased its holdings in The PNC Financial Services Group by 1,332.8% in the second quarter. MBB Public Markets I LLC now owns 28,842 shares of the financial services provider’s stock valued at $4,484,000 after buying an additional 26,829 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.1 %

PNC stock opened at $183.11 on Friday. The firm has a market cap of $72.86 billion, a PE ratio of 15.37, a PEG ratio of 2.03 and a beta of 1.14. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s 50 day moving average price is $177.92 and its 200-day moving average price is $164.00.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly 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 business 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 revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.36 EPS. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.50%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s payout ratio is 53.74%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 2,404 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares in the company, valued at approximately $90,341,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 5th. The shares were 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 $89,649,182.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,223 shares of company stock worth $4,453,360. 0.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Barclays increased their target price on 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. Wells Fargo & Company boosted their price target on shares of 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. 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. Finally, Royal Bank of Canada increased their target price on 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $176.90.

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.