Meeder Advisory Services Inc. purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,512 shares of the financial services provider’s stock, valued at approximately $3,081,000.
Several other large investors have also recently modified their holdings of the company. Cvfg LLC boosted its position in shares of The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 43 shares in the last quarter. Trust Asset Management LLC increased its holdings in The PNC Financial Services Group by 1.0% in the 2nd quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock worth $1,097,000 after buying an additional 43 shares during the period. Baron Wealth Management LLC raised its holdings in shares of The PNC Financial Services Group by 3.0% during the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 46 shares during the last quarter. Atom Investors LP raised its stake in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock valued at $529,000 after buying an additional 46 shares during the last quarter. Finally, Flavin Financial Services Inc. boosted its position in The PNC Financial Services Group by 0.4% in the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.
Insiders Place Their Bets
In related news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stacy M. Juchno sold 3,354 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. This represents a 15.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 51,654 shares of company stock valued at $11,552,661. 0.38% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on PNC
The PNC Financial Services Group Stock Performance
NYSE PNC opened at $254.43 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $247.74 and its 200-day simple moving average is $228.96. The company has a market cap of $101.50 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $258.96.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly 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 return on equity of 12.48% and a net margin of 21.41%.The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the business earned $3.85 earnings per share. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.
The PNC Financial Services Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s payout ratio is currently 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.
Featured Articles
- Five stocks we like better than The PNC Financial Services Group
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc (NYSE:PNC – Free Report).
Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.
