The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,399 shares of the financial services provider’s stock after purchasing an additional 524 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in The PNC Financial Services Group were worth $378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC increased its holdings in shares of The PNC Financial Services Group by 23.3% in the first quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock valued at $1,371,000 after purchasing an additional 1,604 shares during the period. Trust Point Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter worth $459,000. Cerity Partners LLC boosted its position in The PNC Financial Services Group by 15.0% during the fourth quarter. Cerity Partners LLC now owns 112,831 shares of the financial services provider’s stock worth $17,472,000 after purchasing an additional 14,750 shares in the last quarter. Vaughan David Investments LLC IL lifted its position in shares of The PNC Financial Services Group by 5.7% in the fourth quarter. Vaughan David Investments LLC IL now owns 251,447 shares of the financial services provider’s stock valued at $38,937,000 after acquiring an additional 13,648 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $1,200,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

NYSE PNC traded down $4.18 on Monday, hitting $165.82. The stock had a trading volume of 3,302,679 shares, compared to its average volume of 1,942,949. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $182.84. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $65.98 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The firm has a 50-day moving average of $162.13 and a 200-day moving average of $156.09.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm earned $3.36 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.02 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be given a dividend of $1.60 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction that occurred on 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 in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Insiders sold a total of 19,903 shares of company stock valued at $3,463,786 in the last three months. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Citigroup increased their target price 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. JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Evercore ISI increased their target price 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, Wells Fargo & Company increased their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.