Archford Capital Strategies LLC Increases Position in PNC Financial Services Group Inc (PNC)
Archford Capital Strategies LLC lifted its position in PNC Financial Services Group Inc (NYSE:PNC) by 197.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,090 shares of the financial services provider’s stock after purchasing an additional 723 shares during the period. Archford Capital Strategies LLC’s holdings in PNC Financial Services Group were worth $147,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stelac Advisory Services LLC bought a new position in PNC Financial Services Group in the first quarter worth approximately $102,000. Braun Bostich & Associates Inc. bought a new position in PNC Financial Services Group in the first quarter worth approximately $105,000. Landaas & Co. WI ADV bought a new position in PNC Financial Services Group in the second quarter worth approximately $147,000. McKinley Carter Wealth Services Inc. bought a new position in PNC Financial Services Group in the first quarter worth approximately $150,000. Finally, Kaizen Advisory LLC raised its stake in PNC Financial Services Group by 147.8% in the second 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. Hedge funds and other institutional investors own 79.93% of the company’s stock.
In other PNC Financial Services Group news, Director Martin Pfinsgraff acquired 700 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 18th. The stock was bought at an average price of $142.15 per share, with a total value of $99,505.00. Following the completion of the purchase, the director now directly owns 1,050 shares of the company’s stock, valued at approximately $149,257.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Hannon sold 5,247 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 58,239 shares of the company’s stock, valued at approximately $8,233,829.82. The disclosure for this sale can be found here. Insiders sold 34,247 shares of company stock valued at $4,830,351 in the last three months. 0.38% of the stock is currently owned by insiders.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, July 13th. The financial services provider reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.14. The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.23 billion. PNC Financial Services Group had a net margin of 30.40% and a return on equity of 10.33%. sell-side analysts predict that PNC Financial Services Group Inc will post 10.72 EPS for the current fiscal year.
PNC Financial Services Group Company 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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