Capital Fund Management S.A. Boosts Stake in PNC Financial Services Group Inc (NYSE:PNC)
Capital Fund Management S.A. increased its position in PNC Financial Services Group Inc (NYSE:PNC) by 39.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,532 shares of the financial services provider’s stock after purchasing an additional 432 shares during the quarter. Capital Fund Management S.A.’s holdings in PNC Financial Services Group were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in PNC. Stelac Advisory Services LLC acquired a new stake in shares of PNC Financial Services Group during the first quarter worth $102,000. Braun Bostich & Associates Inc. acquired a new stake in shares of PNC Financial Services Group during the first quarter worth $105,000. Landaas & Co. WI ADV acquired a new stake in shares of PNC Financial Services Group during the second quarter worth $147,000. Archford Capital Strategies LLC raised its holdings in shares of PNC Financial Services Group by 197.0% during the second quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 723 shares during the period. Finally, McKinley Carter Wealth Services Inc. acquired a new stake in shares of PNC Financial Services Group during the first quarter worth $150,000. Institutional investors and hedge funds own 79.83% of the company’s stock.
A number of brokerages have weighed in on PNC. Vining Sparks reissued a “buy” rating and set a $160.00 target price on shares of PNC Financial Services Group in a report on Tuesday. ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $156.37.
PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a net margin of 30.40% and a return on equity of 10.33%. The business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter last year, the company earned $2.16 EPS. Equities analysts forecast that PNC Financial Services Group Inc will post 10.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Wednesday, October 17th will be issued a $0.95 dividend. The ex-dividend date is Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.06%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.71%.
In other PNC Financial Services Group news, EVP Wyk Steven C. Van sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 17th. The shares were sold at an average price of $141.09, for a total transaction of $2,116,350.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Q. Reilly sold 24,710 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the transaction, the executive vice president now directly owns 131,020 shares in the company, valued at approximately $18,406,999.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,957 shares of company stock worth $8,301,859. Corporate insiders own 0.38% of the company’s stock.
PNC Financial Services Group Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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