KPP Advisory Services LLC Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

KPP Advisory Services LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,531 shares of the financial services provider’s stock after buying an additional 288 shares during the quarter. KPP Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $549,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PNC. Grayhawk Investment Strategies Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $1,200,000. Envestnet Asset Management Inc. lifted its holdings in The PNC Financial Services Group by 0.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock valued at $239,792,000 after purchasing an additional 6,657 shares in the last quarter. Groupama Asset Managment bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $23,578,000. Integrated Advisors Network LLC increased its stake in shares of The PNC Financial Services Group by 7.3% in the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 148 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $822,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $184.84 on Tuesday. The firm has a market capitalization of $73.55 billion, a PE ratio of 15.52, a PEG ratio of 2.02 and a beta of 1.14. The stock’s fifty day moving average is $178.08 and its 200 day moving average is $164.43. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company earned $3.36 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Barclays upped their price target on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. UBS Group upped their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $176.90.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the completion of the sale, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at approximately $89,649,182.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Insiders sold 26,465 shares of company stock worth $4,681,565 over the last 90 days. Company insiders own 0.42% of the company’s stock.

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.