Emerald Investment Advisers LLC Acquires Shares of 49,479 The PNC Financial Services Group, Inc $PNC

Emerald Investment Advisers LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, HoldingsChannel.com reports. The fund acquired 49,479 shares of the financial services provider’s stock, valued at approximately $12,183,000. The PNC Financial Services Group accounts for 0.8% of Emerald Investment Advisers LLC’s holdings, making the stock its 25th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth about $28,000. Monetary Solutions Ltd purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $25,000. Quarry LP purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at about $25,000. Modus Advisors LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $29,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group during the 1st quarter valued at approximately $31,000. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Stacy M. Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 51,654 shares of company stock worth $11,552,661. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Barclays upped their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Stephens raised their price target on The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Robert W. Baird lifted their price target on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 target price for the company. in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

The PNC Financial Services Group Stock Up 0.6%

Shares of NYSE:PNC opened at $243.05 on Friday. The firm has a market capitalization of $96.96 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.96 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a 50 day moving average price of $248.28 and a 200-day moving average price of $229.34. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.39. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were issued a dividend of $2.00 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.03%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.