Industrial Alliance Investment Management Inc. Has $404,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Industrial Alliance Investment Management Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,497 shares of the financial services provider’s stock after acquiring an additional 537 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $404,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PNC. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Palisade Asset Management LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at $29,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Fortis Group Advisors LLC increased its holdings in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Finally, Core Wealth Advisors Inc. acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.5 %

PNC stock traded up $0.98 during midday trading on Tuesday, hitting $181.98. 1,627,247 shares of the company’s stock were exchanged, compared to its average volume of 1,925,256. The stock’s fifty day moving average price is $160.86 and its 200-day moving average price is $155.52. 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 cap of $72.41 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 2.33 and a beta of 1.15. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $182.84.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.36 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be paid a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.52%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Bank of America increased their price objective on The PNC Financial Services Group from $169.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $176.09.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group 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 sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group 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 sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. Insiders have sold 8,903 shares of company stock valued at $1,466,406 in the last 90 days. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group 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.