The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 59.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,196 shares of the financial services provider’s stock after acquiring an additional 28,486 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The PNC Financial Services Group were worth $11,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Valley Brook Capital Group Inc. lifted its position in The PNC Financial Services Group by 0.6% in the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 62 shares during the period. Kowal Investment Group LLC lifted its holdings in shares of The PNC Financial Services Group by 2.6% in the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after buying an additional 68 shares during the period. Ranch Capital Advisors Inc. boosted its stake in shares of The PNC Financial Services Group by 1.0% in the second quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 69 shares in the last quarter. Triangle Securities Wealth Management grew its holdings in The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 70 shares during the period. Finally, Cooper Financial Group raised its position in The PNC Financial Services Group by 1.7% in the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on 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 transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,864 shares of company stock valued at $4,551,485. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 1.5 %

Shares of The PNC Financial Services Group stock opened at $181.77 on Thursday. The stock has a market capitalization of $72.25 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.03 and a beta of 1.14. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78. 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 business’s 50 day simple moving average is $177.58 and its 200-day simple moving average is $163.53.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company earned $3.36 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a $1.60 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. This represents a $6.40 annualized dividend and a yield of 3.52%. The PNC Financial Services Group’s payout ratio is 53.74%.

Analysts Set New Price Targets

Several research firms recently commented on PNC. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada raised their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their target price 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. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.