The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Nilsine Partners LLC

Nilsine Partners LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,311 shares of the financial services provider’s stock after purchasing an additional 148 shares during the period. Nilsine Partners LLC’s holdings in The PNC Financial Services Group were worth $359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its position in The PNC Financial Services Group by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 107 shares during the last quarter. Victory Capital Management Inc. boosted its stake in The PNC Financial Services Group by 61.1% during the fourth quarter. Victory Capital Management Inc. now owns 546,550 shares of the financial services provider’s stock worth $84,633,000 after buying an additional 207,283 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of The PNC Financial Services Group by 2.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 188,681 shares of the financial services provider’s stock worth $29,217,000 after acquiring an additional 4,971 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of The PNC Financial Services Group by 19.3% in the fourth quarter. Natixis Advisors L.P. now owns 303,386 shares of the financial services provider’s stock valued at $46,978,000 after purchasing an additional 49,086 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in The PNC Financial Services Group by 66.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 18,552 shares of the financial services provider’s stock worth $2,872,000 after purchasing an additional 7,435 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares in the company, valued at approximately $87,061,400.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the completion of the transaction, the chief executive officer now owns 563,395 shares in the company, valued at approximately $94,368,662.50. 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 90 days. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Up 1.1 %

The PNC Financial Services Group stock traded up $2.05 during mid-day trading on Friday, reaching $185.09. 1,978,286 shares of the company’s stock were exchanged, compared to its average volume of 1,610,691. The company has a fifty day moving average of $170.16 and a 200-day moving average of $159.45. The company has a market cap of $73.57 billion, a P/E ratio of 15.54, a P/E/G ratio of 2.05 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $185.57.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business posted $3.36 earnings per share. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PNC. Jefferies Financial Group raised their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Evercore ISI lifted their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Citigroup increased their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $177.02.

The PNC Financial Services Group Company 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.