Czech National Bank Buys 5,150 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Czech National Bank raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,974 shares of the financial services provider’s stock after acquiring an additional 5,150 shares during the quarter. Czech National Bank’s holdings in The PNC Financial Services Group were worth $14,968,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Bank & Trust Co bought a new stake in The PNC Financial Services Group during the second quarter valued at about $26,000. ORG Partners LLC raised its holdings in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the period. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter worth about $29,000. Finally, Core Wealth Advisors Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $31,000. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares in the company, valued at approximately $90,341,920. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares in the company, valued at $90,341,920. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the transaction, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,824 shares of company stock worth $4,580,223. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Up 2.2 %

Shares of PNC traded up $3.87 during trading hours on Friday, reaching $182.26. 1,103,791 shares of the company traded hands, compared to its average volume of 1,864,656. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78. The stock’s fifty day moving average price is $178.13 and its 200 day moving average price is $165.08. The firm has a market cap of $72.52 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.01 and a beta of 1.14. 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share 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 during 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 firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNC. Morgan Stanley lifted their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group lifted their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $177.65.

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.