AEGON ASSET MANAGEMENT UK Plc Invests $2.31 Million in The PNC Financial Services Group, Inc $PNC

AEGON ASSET MANAGEMENT UK Plc bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the first quarter, Holdings Channel reports. The institutional investor bought 11,100 shares of the financial services provider’s stock, valued at approximately $2,309,000.

A number of other large investors have also recently bought and sold shares of PNC. Monetary Solutions Ltd purchased a new position in The PNC Financial Services Group during the 4th quarter worth $25,000. Quarry LP purchased a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, EFG International AG acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.1%

Shares of The PNC Financial Services Group stock opened at $232.39 on Friday. The firm has a market cap of $93.32 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a 52-week low of $176.16 and a 52-week high of $243.94. The company’s 50-day simple moving average is $222.68 and its 200-day simple moving average is $217.55. 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 (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the firm earned $3.51 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Insider Activity

In related 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 stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,300 shares of company stock valued at $10,694,574 in the last three months. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PNC. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective for the company. Morgan Stanley lifted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Stephens assumed coverage on The PNC Financial Services Group in a report on Monday, June 15th. They issued an “overweight” rating and a $265.00 target price on the stock. Finally, Barclays upped their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.72.

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.