ABN Amro Investment Solutions Has $5.99 Million Position in The PNC Financial Services Group, Inc $PNC

ABN Amro Investment Solutions lessened its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 36.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,786 shares of the financial services provider’s stock after selling 16,428 shares during the period. ABN Amro Investment Solutions’ holdings in The PNC Financial Services Group were worth $5,990,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Cvfg LLC raised its holdings in shares of The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 43 shares during the period. YANKCOM Partnership grew its holdings in The PNC Financial Services Group by 1.8% during the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 46 shares during the period. Westfuller Advisors LLC grew its holdings in The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 46 shares during the period. Baron Wealth Management LLC increased its position in The PNC Financial Services Group by 3.0% during the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock worth $325,000 after buying an additional 46 shares during the last quarter. Finally, Atom Investors LP increased its position in The PNC Financial Services Group by 1.8% during the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after buying an additional 46 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $252.79 on Thursday. The company has a market capitalization of $101.51 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.00 and a beta of 0.91. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.29. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $256.49. The stock’s 50 day moving average is $235.44 and its 200-day moving average is $224.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.39. The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the firm posted $3.85 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc will post 19.14 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be issued a dividend of $2.00 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, July 20th. The PNC Financial Services Group’s payout ratio is 44.03%.

Insider Activity

In related news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird raised their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Stephens increased their price target on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised their price target on The PNC Financial Services Group from $238.00 to $264.50 and gave the company an “overweight” rating in a report on Monday, July 6th. Finally, Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $265.50.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.