Standard Life Aberdeen plc boosted its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 38.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 347,749 shares of the financial services provider’s stock after buying an additional 97,340 shares during the period. Standard Life Aberdeen plc’s holdings in PNC Financial Services Group were worth $46,989,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Stelac Advisory Services LLC purchased a new position in shares of PNC Financial Services Group in the 1st quarter worth $102,000. Braun Bostich & Associates Inc. purchased a new position in shares of PNC Financial Services Group in the 1st quarter worth $105,000. Landaas & Co. WI ADV purchased a new position in shares of PNC Financial Services Group in the 2nd quarter worth $147,000. McKinley Carter Wealth Services Inc. purchased a new position in shares of PNC Financial Services Group in the 1st quarter worth $150,000. Finally, Kaizen Advisory LLC grew its stake in shares of PNC Financial Services Group by 147.8% in the 2nd quarter. Kaizen Advisory LLC now owns 1,150 shares of the financial services provider’s stock worth $155,000 after buying an additional 686 shares in the last quarter. 79.93% of the stock is owned by institutional investors.
In related news, Director Martin Pfinsgraff acquired 700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The stock was bought at an average price of $142.15 per share, for a total transaction of $99,505.00. Following the acquisition, the director now directly owns 1,050 shares of the company’s stock, valued at approximately $149,257.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Lyons sold 14,000 shares of PNC Financial Services Group stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $140.87, for a total transaction of $1,972,180.00. Following the sale, the insider now owns 124,841 shares of the company’s stock, valued at approximately $17,586,351.67. The disclosure for this sale can be found here. Insiders sold a total of 34,247 shares of company stock valued at $4,830,351 in the last 90 days. Company insiders own 0.38% of the company’s stock.
PNC Financial Services Group stock opened at $142.93 on Monday. The stock has a market capitalization of $66.36 billion, a PE ratio of 16.82, a PEG ratio of 1.30 and a beta of 0.94. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.91 and a quick ratio of 0.90. PNC Financial Services Group Inc has a 12-month low of $119.77 and a 12-month high of $163.59.
PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, July 13th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.14. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.23 billion. PNC Financial Services Group had a net margin of 30.40% and a return on equity of 10.33%. research analysts forecast that PNC Financial Services Group Inc will post 10.72 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 6th. Stockholders of record on Tuesday, July 17th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Monday, July 16th. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.75. PNC Financial Services Group’s dividend payout ratio (DPR) is 44.71%.
PNC Financial Services Group Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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