Interval Partners LP Acquires 128,901 Shares of The PNC Financial Services Group, Inc $PNC

Interval Partners LP raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 124.5% in the 4th quarter, HoldingsChannel reports. The firm owned 232,466 shares of the financial services provider’s stock after purchasing an additional 128,901 shares during the quarter. The PNC Financial Services Group accounts for approximately 0.9% of Interval Partners LP’s portfolio, making the stock its 24th largest position. Interval Partners LP’s holdings in The PNC Financial Services Group were worth $48,523,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Cvfg LLC raised its position in The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 43 shares during the last quarter. YANKCOM Partnership raised its position in The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC raised its position in The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 46 shares during the last quarter. Atom Investors LP raised its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 46 shares during the last quarter. Finally, Flavin Financial Services Inc. raised its position in The PNC Financial Services Group by 0.4% in the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PNC shares. JPMorgan Chase & Co. boosted their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Barclays boosted their target price on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Bank of America boosted their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Jefferies Financial Group started coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $246.72.

The PNC Financial Services Group Trading Down 0.7%

PNC stock opened at $232.99 on Thursday. The company has a market cap of $93.56 billion, a P/E ratio of 13.54, a PEG ratio of 0.98 and a beta of 0.92. The PNC Financial Services Group, Inc has a twelve month low of $172.89 and a twelve month high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $222.07 and a 200-day moving average of $217.15.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.51 earnings per share. As a group, equities research analysts expect that The PNC Financial Services Group, Inc will post 18.79 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by insiders.

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.