PNC Financial Services Group Inc (NYSE:PNC) Holdings Raised by Sigma Planning Corp

Sigma Planning Corp lifted its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,290 shares of the financial services provider’s stock after purchasing an additional 1,093 shares during the quarter. Sigma Planning Corp’s holdings in PNC Financial Services Group were worth $1,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PNC. Thoroughbred Financial Services LLC raised its stake in shares of PNC Financial Services Group by 13,808.1% during the second quarter. Thoroughbred Financial Services LLC now owns 1,885,933 shares of the financial services provider’s stock valued at $188,593,000 after purchasing an additional 1,872,373 shares in the last quarter. FMR LLC raised its stake in shares of PNC Financial Services Group by 3.8% during the first quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock valued at $1,382,040,000 after purchasing an additional 407,250 shares in the last quarter. Hexavest Inc. bought a new stake in shares of PNC Financial Services Group during the second quarter valued at about $53,247,000. American Century Companies Inc. raised its stake in shares of PNC Financial Services Group by 8.9% during the first quarter. American Century Companies Inc. now owns 4,353,354 shares of the financial services provider’s stock valued at $533,982,000 after purchasing an additional 357,041 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of PNC Financial Services Group by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock valued at $647,356,000 after purchasing an additional 323,714 shares in the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.

A number of research analysts recently issued reports on PNC shares. JPMorgan Chase & Co. lifted their target price on PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley set a $141.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $143.41.

In related news, insider Karen L. Larrimer sold 7,806 shares of PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $142.27, for a total value of $1,110,559.62. Following the transaction, the insider now owns 30,978 shares of the company’s stock, valued at approximately $4,407,240.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory H. Kozich sold 3,441 shares of PNC Financial Services Group stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $144.24, for a total value of $496,329.84. Following the completion of the transaction, the insider now directly owns 6,639 shares in the company, valued at approximately $957,609.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,242 shares of company stock worth $19,853,468. 0.37% of the stock is owned by corporate insiders.

NYSE:PNC traded up $2.26 during mid-day trading on Friday, reaching $127.00. 1,845,300 shares of the stock were exchanged, compared to its average volume of 2,114,638. The business has a fifty day moving average price of $137.92 and a 200 day moving average price of $131.33. The firm has a market capitalization of $55.54 billion, a PE ratio of 11.86, a PEG ratio of 1.62 and a beta of 1.07. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $147.00. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.05. The firm had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. PNC Financial Services Group’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.72 earnings per share. On average, sell-side analysts forecast that PNC Financial Services Group Inc will post 11.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 19th were issued a dividend of $1.15 per share. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. This represents a $4.60 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Thursday, July 18th. PNC Financial Services Group’s payout ratio is presently 42.95%.

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.

Recommended Story: What is quantitative easing?

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.