Elo Mutual Pension Insurance Co Buys 10,871 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Elo Mutual Pension Insurance Co boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 47.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,015 shares of the financial services provider’s stock after acquiring an additional 10,871 shares during the period. Elo Mutual Pension Insurance Co’s holdings in The PNC Financial Services Group were worth $5,289,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at $26,000. ORG Partners LLC increased its holdings in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the period. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth about $29,000. Finally, Core Wealth Advisors Inc. acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $182.57 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $72.65 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The company’s 50 day simple moving average is $176.37 and its 200-day simple moving average is $162.50. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $185.84.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $3.36 EPS. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a dividend of $1.60 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.51%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PNC shares. UBS Group raised their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley raised their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $176.90.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock valued at $4,418,109 over the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Profile

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.