KBC Group NV Boosts Holdings in The PNC Financial Services Group, Inc $PNC

KBC Group NV raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 284,707 shares of the financial services provider’s stock after buying an additional 14,964 shares during the period. KBC Group NV owned about 0.07% of The PNC Financial Services Group worth $53,075,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Saudi Central Bank acquired a new position in The PNC Financial Services Group in the first quarter valued at approximately $27,000. IMG Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $27,000. Concord Wealth Partners lifted its stake in shares of The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the period. WPG Advisers LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $36,000. Finally, FNY Investment Advisers LLC purchased a new stake in The PNC Financial Services Group during the second quarter worth $37,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,151 shares of company stock valued at $400,092. 0.41% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PNC. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Citigroup increased their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Finally, Raymond James Financial increased their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $218.47.

The PNC Financial Services Group Stock Up 1.1%

NYSE PNC opened at $186.83 on Thursday. The business has a fifty day moving average price of $192.57 and a 200 day moving average price of $187.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $73.26 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.49 earnings per share. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were issued a $1.70 dividend. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.