Y.D. More Investments Ltd Makes New $33,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 211 shares of the financial services provider’s stock, valued at approximately $33,000.

Other large investors have also recently made changes to their positions in the company. Capital International Investors lifted its stake in The PNC Financial Services Group by 0.5% during the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after purchasing an additional 78,407 shares in the last quarter. Norges Bank purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $1,039,481,000. Franklin Resources Inc. lifted its stake in The PNC Financial Services Group by 165.4% during the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after acquiring an additional 3,046,226 shares in the last quarter. Capital Research Global Investors boosted its holdings in The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after acquiring an additional 778,264 shares during the period. Finally, Putnam Investments LLC grew its position in The PNC Financial Services Group by 3.2% in the 4th quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock valued at $568,662,000 after acquiring an additional 114,960 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $177.24 on Friday. The firm has a market capitalization of $70.45 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.96 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $185.84. The firm’s 50 day moving average is $175.16 and its two-hundred day moving average is $161.66.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating 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 firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm posted $3.36 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.61%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is 53.74%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNC. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Evercore ISI upped their price target on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $176.90.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the transaction, the chief executive officer now owns 554,701 shares in the company, valued at approximately $101,604,582.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the sale, the chief executive officer now owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The disclosure for this sale can be found here. In the last three months, insiders sold 25,263 shares of company stock valued at $4,418,109. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company Profile

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.