CHICAGO TRUST Co NA lifted its stake in PNC Financial Services Group Inc (NYSE:PNC) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,401 shares of the financial services provider’s stock after buying an additional 1,082 shares during the period. CHICAGO TRUST Co NA’s holdings in PNC Financial Services Group were worth $1,427,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in PNC Financial Services Group in the first quarter valued at about $25,000. Field & Main Bank bought a new position in PNC Financial Services Group during the 1st quarter worth approximately $25,000. IMA Wealth Inc. bought a new position in PNC Financial Services Group during the 1st quarter worth approximately $25,000. Penserra Capital Management LLC bought a new position in PNC Financial Services Group during the 1st quarter worth approximately $25,000. Finally, Executive Wealth Management LLC bought a new position in PNC Financial Services Group during the 4th quarter worth approximately $29,000. 80.34% of the stock is owned by institutional investors.
In related news, insider Robert Q. Reilly sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $141.00, for a total value of $3,525,000.00. Following the sale, the insider now directly owns 142,228 shares in the company, valued at approximately $20,054,148. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Hannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $138.41, for a total value of $692,050.00. Following the completion of the sale, the insider now owns 52,417 shares in the company, valued at $7,255,036.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,285 shares of company stock worth $18,145,829. 0.37% of the stock is owned by insiders.
Shares of PNC Financial Services Group stock traded up $2.18 on Friday, reaching $143.02. 910,109 shares of the company were exchanged, compared to its average volume of 1,852,003. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50-day moving average price of $137.43. The stock has a market capitalization of $63.80 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.84 and a beta of 1.09. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $147.23.
PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The firm had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the firm earned $2.72 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Research analysts forecast that PNC Financial Services Group Inc will post 11.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be given a $1.15 dividend. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. This represents a $4.60 annualized dividend and a yield of 3.22%. The ex-dividend date is Thursday, July 18th. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.95%.
PNC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 target price on the stock. Morgan Stanley set a $36.00 target price on ArcBest and gave the stock a “hold” rating in a report on Monday, July 8th. UBS Group set a $169.00 target price on M&T Bank and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Barclays increased their target price on Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a report on Monday, April 15th. Finally, ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $142.99.
PNC Financial Services Group Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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