PNC Financial Services Group Inc (PNC) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in PNC Financial Services Group Inc (NYSE:PNC) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,121 shares of the financial services provider’s stock after purchasing an additional 1,597 shares during the quarter. Victory Capital Management Inc.’s holdings in PNC Financial Services Group were worth $41,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. Schroder Investment Management Group grew its position in shares of PNC Financial Services Group by 1,052.5% in the first quarter. Schroder Investment Management Group now owns 1,283,845 shares of the financial services provider’s stock valued at $194,169,000 after purchasing an additional 1,172,445 shares during the period. Summit Trail Advisors LLC grew its position in shares of PNC Financial Services Group by 10,726.8% in the first quarter. Summit Trail Advisors LLC now owns 335,847 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 332,745 shares during the period. BlackRock Inc. grew its position in shares of PNC Financial Services Group by 1.1% in the first quarter. BlackRock Inc. now owns 28,481,880 shares of the financial services provider’s stock valued at $4,307,600,000 after purchasing an additional 300,016 shares during the period. JPMorgan Chase & Co. grew its position in shares of PNC Financial Services Group by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 11,583,719 shares of the financial services provider’s stock valued at $1,751,922,000 after purchasing an additional 235,358 shares during the period. Finally, USS Investment Management Ltd acquired a new stake in shares of PNC Financial Services Group in the second quarter valued at about $26,223,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

PNC Financial Services Group opened at $143.08 on Monday, according to Marketbeat Ratings. The stock has a market cap of $66.65 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.94. PNC Financial Services Group Inc has a twelve month low of $119.77 and a twelve month high of $163.59. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.16.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 6th. Investors of record on Tuesday, July 17th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Monday, July 16th. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.75. This represents a $3.80 dividend on an annualized basis and a yield of 2.66%. PNC Financial Services Group’s payout ratio is presently 44.71%.

In related news, insider Michael P. Lyons sold 14,000 shares of the business’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $140.87, for a total transaction of $1,972,180.00. Following the transaction, the insider now directly owns 124,841 shares in the company, valued at $17,586,351.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Hannon sold 5,247 shares of the business’s stock in a transaction dated 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 in the company, valued at $8,233,829.82. The disclosure for this sale can be found here. Insiders have sold 34,247 shares of company stock worth $4,830,351 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Separately, Bank of America boosted their price target on shares of PNC Financial Services Group from $166.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Seventeen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $150.87.

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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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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