XTX Topco Ltd Invests $512,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

XTX Topco Ltd purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,290 shares of the financial services provider’s stock, valued at approximately $512,000.

Several other institutional investors also recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $1,200,000. Envestnet Asset Management Inc. boosted its stake in The PNC Financial Services Group by 0.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock worth $239,792,000 after purchasing an additional 6,657 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $23,578,000. Integrated Advisors Network LLC raised its position in shares of The PNC Financial Services Group by 7.3% in the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after buying an additional 148 shares during the last quarter. Finally, Equity Investment Corp boosted its position in The PNC Financial Services Group by 3.4% during the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after acquiring an additional 22,188 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Evercore ISI lifted their price target on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $176.90.

The PNC Financial Services Group Trading Down 0.3 %

Shares of NYSE PNC opened at $184.62 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $73.46 billion, a PE ratio of 15.50, a PEG ratio of 2.00 and a beta of 1.14. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78. The stock has a fifty day simple moving average of $177.58 and a 200-day simple moving average of $163.53.

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 net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $3.36 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.47%. The ex-dividend date was Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the 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 sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The disclosure for this sale can be found here. Insiders sold a total of 25,864 shares of company stock worth $4,551,485 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

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.