Interval Partners LP Has $37.52 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Interval Partners LP boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 22.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 232,198 shares of the financial services provider’s stock after buying an additional 43,264 shares during the period. The PNC Financial Services Group comprises 1.1% of Interval Partners LP’s investment portfolio, making the stock its 15th largest holding. Interval Partners LP owned about 0.06% of The PNC Financial Services Group worth $37,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Norges Bank acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $1,039,481,000. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 165.4% in the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after purchasing an additional 3,046,226 shares during the period. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 14.4% in the 4th quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after purchasing an additional 1,978,854 shares during the period. Capital Research Global Investors increased its holdings in shares of The PNC Financial Services Group by 19.5% in 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 purchasing an additional 778,264 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of The PNC Financial Services Group by 15,539.2% in the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after purchasing an additional 639,903 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded up $0.98 during trading hours on Tuesday, reaching $181.98. 1,627,247 shares of the company were exchanged, compared to its average volume of 1,925,256. The firm has a market cap of $72.41 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.33 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average of $160.39 and a 200 day moving average of $155.29. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $182.84.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the business earned $3.36 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.52%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at $90,341,920. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,903 shares of company stock valued at $1,466,406. 0.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Royal Bank of Canada upped their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Morgan Stanley upped their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday. Citigroup boosted their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $176.09.

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.