Kowal Investment Group LLC Has $416,000 Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kowal Investment Group LLC increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,576 shares of the financial services provider’s stock after purchasing an additional 527 shares during the period. Kowal Investment Group LLC’s holdings in The PNC Financial Services Group were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $1,039,481,000. Franklin Resources Inc. boosted its holdings in shares of The PNC Financial Services Group by 165.4% during the fourth 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 during the period. Capital International Investors lifted its holdings in shares of The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after buying an additional 1,978,854 shares in the last quarter. Capital Research Global Investors boosted its position in shares of The PNC Financial Services Group by 19.5% in the fourth 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, International Assets Investment Management LLC grew its stake in shares of The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after acquiring an additional 639,903 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PNC. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Evercore ISI upped their target price on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Jefferies Financial Group decreased their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Bank of America boosted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $158.43.

The PNC Financial Services Group Trading Up 0.7 %

Shares of PNC stock traded up $1.11 during trading hours on Monday, hitting $156.59. 771,317 shares of the company’s stock traded hands, compared to its average volume of 1,890,666. The stock has a market cap of $62.31 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The stock’s 50 day simple moving average is $155.18 and its 200 day simple moving average is $152.96. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the business posted $3.98 EPS. The business’s revenue was down 8.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.96%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

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.