Patriot Financial Group Insurance Agency LLC Acquires 91 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Patriot Financial Group Insurance Agency LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,494 shares of the financial services provider’s stock after buying an additional 91 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in The PNC Financial Services Group were worth $543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $1,039,481,000. Franklin Resources Inc. grew its holdings in shares of The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after purchasing an additional 3,046,226 shares in the last quarter. Capital International Investors grew its holdings in shares of The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after purchasing an additional 1,978,854 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of The PNC Financial Services Group by 19.5% during the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of The PNC Financial Services Group by 4,040.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock worth $62,878,000 after purchasing an additional 396,252 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. Insiders have sold a total of 24,021 shares of company stock valued at $4,190,611 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PNC shares. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Royal Bank of Canada boosted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Barclays boosted their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, UBS Group boosted their target price on 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $177.02.

The PNC Financial Services Group Trading Up 0.6 %

PNC stock traded up $1.04 during midday trading on Tuesday, hitting $179.15. The company had a trading volume of 1,335,662 shares, compared to its average volume of 1,896,157. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $182.84. The stock’s 50 day moving average price is $167.89 and its 200 day moving average price is $158.55. The stock has a market cap of $71.29 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.92 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.36 earnings per share. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

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.