Raymond James & Associates lifted its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 786,713 shares of the financial services provider’s stock after buying an additional 61,207 shares during the period. Raymond James & Associates’ holdings in PNC Financial Services Group were worth $106,285,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in PNC. Stelac Advisory Services LLC purchased a new position in PNC Financial Services Group in the first quarter worth $102,000. Braun Bostich & Associates Inc. purchased a new position in PNC Financial Services Group in the first quarter worth $105,000. McKinley Carter Wealth Services Inc. purchased a new position in PNC Financial Services Group in the first quarter worth $150,000. Landaas & Co. WI ADV purchased a new position in PNC Financial Services Group in the second quarter worth $147,000. Finally, Archford Capital Strategies LLC boosted its position in PNC Financial Services Group by 197.0% in the second quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 723 shares during the last quarter. 79.93% of the stock is currently owned by institutional investors.
In other news, insider Michael J. Hannon sold 5,247 shares of the company’s stock in a transaction on Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total transaction of $741,820.86. Following the transaction, the insider now owns 58,239 shares of the company’s stock, valued at approximately $8,233,829.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael P. Lyons sold 14,000 shares of the company’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $140.87, for a total value of $1,972,180.00. Following the transaction, the insider now directly owns 124,841 shares in the company, valued at approximately $17,586,351.67. The disclosure for this sale can be found here. Insiders have sold a total of 34,247 shares of company stock worth $4,830,351 in the last ninety days. Insiders own 0.38% of the company’s stock.
PNC stock opened at $143.20 on Friday. PNC Financial Services Group Inc has a 1-year low of $119.77 and a 1-year high of $163.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.91. The firm has a market capitalization of $66.94 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.31 and a beta of 0.90.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, July 13th. The financial services provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%. The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.23 billion. research analysts predict that PNC Financial Services Group Inc will post 10.72 earnings per share for the current year.
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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