Quadrant Capital Group LLC Buys 649 Shares of PNC Financial Services Group Inc (NYSE:PNC)

Quadrant Capital Group LLC grew its stake in PNC Financial Services Group Inc (NYSE:PNC) by 40.3% during the second quarter, Holdings Channel reports. The firm owned 2,259 shares of the financial services provider’s stock after purchasing an additional 649 shares during the period. Quadrant Capital Group LLC’s holdings in PNC Financial Services Group were worth $299,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PNC. FMR LLC increased its position in shares of PNC Financial Services Group by 3.8% during the first quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock valued at $1,382,040,000 after acquiring an additional 407,250 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PNC Financial Services Group by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock valued at $647,356,000 after acquiring an additional 323,714 shares during the last quarter. American Century Companies Inc. increased its position in shares of PNC Financial Services Group by 8.9% during the first quarter. American Century Companies Inc. now owns 4,353,354 shares of the financial services provider’s stock valued at $533,982,000 after acquiring an additional 357,041 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of PNC Financial Services Group by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,981,897 shares of the financial services provider’s stock valued at $348,594,000 after acquiring an additional 41,309 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of PNC Financial Services Group by 8.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,701,775 shares of the financial services provider’s stock valued at $331,399,000 after acquiring an additional 208,959 shares during the last quarter. Institutional investors own 80.59% of the company’s stock.

NYSE:PNC traded down $4.58 during trading hours on Monday, hitting $133.38. 48,659 shares of the company’s stock traded hands, compared to its average volume of 1,900,364. The company has a market cap of $62.28 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.80 and a beta of 1.07. PNC Financial Services Group Inc has a 52 week low of $108.45 and a 52 week high of $147.00. The company has a fifty day moving average of $138.72. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.40.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the previous year, the company posted $2.72 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PNC Financial Services Group Inc will post 11.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 19th will be issued a dividend of $1.15 per share. This is an increase from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, July 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. PNC Financial Services Group’s dividend payout ratio is 42.95%.

A number of analysts recently commented on the company. ValuEngine downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday. Morgan Stanley decreased their price target on PNC Financial Services Group from $142.00 to $136.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Barclays increased their price target on PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their price target on PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $142.99.

In other news, insider Gregory H. Kozich sold 3,441 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $144.24, for a total value of $496,329.84. Following the sale, the insider now directly owns 6,639 shares of the company’s stock, valued at approximately $957,609.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $140.63, for a total value of $10,547,250.00. Following the completion of the transaction, the chief executive officer now directly owns 657,179 shares in the company, valued at $92,419,082.77. The disclosure for this sale can be found here. Insiders have sold a total of 141,242 shares of company stock worth $19,853,468 in the last quarter. Company insiders own 0.37% of the company’s stock.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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