Nykredit A S Makes New Investment in The PNC Financial Services Group, Inc $PNC

Nykredit A S bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 136,188 shares of the financial services provider’s stock, valued at approximately $33,532,000.

Other hedge funds have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG boosted its stake in The PNC Financial Services Group by 18.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 46,533 shares of the financial services provider’s stock valued at $11,457,000 after acquiring an additional 7,411 shares during the last quarter. MBA Advisors LLC bought a new position in shares of The PNC Financial Services Group during the second quarter worth about $255,000. Natural Investments LLC lifted its position in shares of The PNC Financial Services Group by 1.0% during the second quarter. Natural Investments LLC now owns 8,232 shares of the financial services provider’s stock worth $2,026,000 after purchasing an additional 84 shares during the last quarter. XML Financial LLC bought a new position in shares of The PNC Financial Services Group during the second quarter worth about $267,000. Finally, Legacy Financial Advisors Inc. increased its holdings in The PNC Financial Services Group by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 16,248 shares of the financial services provider’s stock valued at $4,000,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PNC shares. Morgan Stanley increased their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Citigroup boosted their price target on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. upped their price target on The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective on the stock. in a research note on Thursday, July 23rd. Finally, Oppenheimer lifted their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $265.73.

Insider Buying and Selling

In related news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Up 1.0%

Shares of NYSE:PNC opened at $244.94 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $249.54 and its 200 day moving average price is $229.74. The company has a market cap of $97.72 billion, a PE ratio of 13.48, a P/E/G ratio of 1.21 and a beta of 0.90. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the firm earned $3.85 EPS. The PNC Financial Services Group’s quarterly revenue was up 21.4% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were given a dividend of $2.00 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, July 20th. The PNC Financial Services Group’s payout ratio is presently 44.03%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.