Kowal Investment Group LLC Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kowal Investment Group LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,644 shares of the financial services provider’s stock after acquiring an additional 68 shares during the quarter. Kowal Investment Group LLC’s holdings in The PNC Financial Services Group were worth $411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Gilbert & Cook Inc. grew its holdings in The PNC Financial Services Group by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after buying an additional 107 shares in the last quarter. Gryphon Financial Partners LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $228,000. CreativeOne Wealth LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $235,000. Commerce Bank grew its holdings in The PNC Financial Services Group by 1.2% during the 4th quarter. Commerce Bank now owns 20,106 shares of the financial services provider’s stock valued at $3,113,000 after buying an additional 241 shares in the last quarter. Finally, SageView Advisory Group LLC grew its holdings in The PNC Financial Services Group by 125.4% during the 4th quarter. SageView Advisory Group LLC now owns 9,030 shares of the financial services provider’s stock valued at $1,393,000 after buying an additional 5,023 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 0.4 %

Shares of PNC opened at $186.36 on Friday. The company has a market cap of $74.08 billion, a PE ratio of 15.65, a P/E/G ratio of 2.00 and a beta of 1.14. The business has a fifty day moving average of $177.11 and a 200 day moving average of $162.96. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $187.78. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $3.36 earnings per share. The PNC Financial Services Group’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a dividend of $1.60 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PNC shares. Barclays increased their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Jefferies Financial Group increased their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Morgan Stanley increased their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $176.90.

Insider Activity

In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the sale, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,622 shares of company stock valued at $4,319,914. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Company 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.