Glaxis Capital Management LLC Acquires New Position in The PNC Financial Services Group, Inc $PNC

Glaxis Capital Management LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,000 shares of the financial services provider’s stock, valued at approximately $835,000. The PNC Financial Services Group makes up 1.4% of Glaxis Capital Management LLC’s holdings, making the stock its 16th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in The PNC Financial Services Group during the 3rd quarter valued at about $25,000. Modus Advisors LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at about $29,000. Beacon Financial Strategies CORP bought a new stake in The PNC Financial Services Group during the 4th quarter valued at about $35,000. JPL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $37,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $39,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PNC shares. Royal Bank Of Canada restated an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Oppenheimer boosted their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Bank of America boosted their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Citigroup boosted their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $243.11.

Insider Buying and Selling

In other news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. The trade was a 36.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on 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 transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The SEC filing for this sale provides additional information. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.6%

Shares of The PNC Financial Services Group stock opened at $234.12 on Friday. The firm’s 50 day moving average price is $220.29 and its 200-day moving average price is $215.95. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94. The company has a market cap of $94.02 billion, a P/E ratio of 13.60, a PEG ratio of 0.96 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the firm earned $3.51 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

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.