AIA Group Ltd Raises Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Key Points

• AIA Group Ltd increased its stake in The PNC Financial Services Group by 131.2% in the first quarter, now owning 8,160 shares valued at approximately $1,434,000.
• The PNC Financial Services Group recently announced a quarterly dividend of $1.70 per share, up from the previous $1.60, representing a yield of 3.6%.
• Analysts have mixed ratings for PNC, with target prices ranging from $179.00 to $233.00, and a consensus rating classified as "Moderate Buy".

AIA Group Ltd lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 131.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,160 shares of the financial services provider's stock after buying an additional 4,630 shares during the quarter. AIA Group Ltd's holdings in The PNC Financial Services Group were worth $1,434,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after acquiring an additional 1,964,157 shares in the last quarter. Nuveen LLC bought a new position in The PNC Financial Services Group during the first quarter worth $306,905,000. Leigh Baldwin & CO. LLC bought a new position in The PNC Financial Services Group during the fourth quarter worth $299,864,000. GAMMA Investing LLC boosted its stake in The PNC Financial Services Group by 19,279.5% during the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after acquiring an additional 1,143,079 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock worth $495,336,000 after acquiring an additional 830,440 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $3.27 during mid-day trading on Friday, hitting $191.30. 1,300,358 shares of the company traded hands, compared to its average volume of 1,681,907. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The stock has a market cap of $75.34 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average price of $188.97 and a 200-day moving average price of $179.71.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same period in the previous year, the business posted $3.39 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective on the stock in a research note on Wednesday, July 30th. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a research note on Tuesday, July 8th. Citigroup increased their target price on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and an average price target of $214.17.

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.