Czech National Bank Raises Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Czech National Bank boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,974 shares of the financial services provider’s stock after buying an additional 5,150 shares during the period. Czech National Bank’s holdings in The PNC Financial Services Group were worth $14,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $1,200,000. Envestnet Asset Management Inc. boosted its position in The PNC Financial Services Group by 0.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock worth $239,792,000 after purchasing an additional 6,657 shares in the last quarter. Groupama Asset Managment purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $23,578,000. Integrated Advisors Network LLC boosted its position in The PNC Financial Services Group by 7.3% in the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 148 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $822,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 2.2 %

The PNC Financial Services Group stock traded up $3.87 during midday trading on Friday, reaching $182.26. 1,103,791 shares of the stock traded hands, compared to its average volume of 1,864,656. The company has a 50-day simple moving average of $178.13 and a two-hundred day simple moving average of $165.08. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78. The firm has a market cap of $72.52 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last announced its 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 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 analysts’ expectations of $5.40 billion. During the same period last year, the business posted $3.36 EPS. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $167.50, for a total value of $208,035.00. Following the completion of the transaction, the chief executive officer now owns 563,395 shares in the company, valued at approximately $94,368,662.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $167.50, for a total value of $208,035.00. Following the completion of the transaction, the chief executive officer now owns 563,395 shares in the company, valued at approximately $94,368,662.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,824 shares of company stock worth $4,580,223. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PNC. Barclays upped their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Citigroup increased their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, Evercore ISI increased their target price on The PNC Financial Services Group from $203.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.65.

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.