MASTERINVEST Kapitalanlage GmbH Makes New Investment in The PNC Financial Services Group, Inc $PNC

MASTERINVEST Kapitalanlage GmbH purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 3,509 shares of the financial services provider’s stock, valued at approximately $864,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Almitas Capital LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $419,000. Proficio Capital Partners LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $374,000. Pure Financial Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $1,360,000. Transamerica Financial Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at $2,008,000. Finally, Corient Private Wealth LP purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at $89,014,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target on the stock. in a research note on Thursday, July 23rd. Stephens upped their price objective on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Robert W. Baird raised their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Finally, Royal Bank Of Canada upped their price target on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

The PNC Financial Services Group Stock Performance

PNC stock opened at $242.24 on Friday. The firm has a 50 day simple moving average of $249.40 and a 200 day simple moving average of $229.61. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $258.96. The stock has a market cap of $96.64 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.97 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85.

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

The PNC Financial Services Group Increases Dividend

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

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the business’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 directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stacy M. Juchno sold 3,354 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president 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. Insiders sold 6,654 shares of company stock valued at $1,627,011 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

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.