9258 Wealth Management LLC Sells 75 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

9258 Wealth Management LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,037 shares of the financial services provider’s stock after selling 75 shares during the period. 9258 Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC lifted its holdings in The PNC Financial Services Group by 23.3% during the first quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock worth $1,371,000 after buying an additional 1,604 shares during the period. Grayhawk Investment Strategies Inc. acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $1,200,000. Envestnet Asset Management Inc. grew its holdings in The PNC Financial Services Group by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock worth $239,792,000 after purchasing an additional 6,657 shares during the last quarter. Groupama Asset Managment purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $23,578,000. Finally, Integrated Advisors Network LLC boosted its position in shares of The PNC Financial Services Group by 7.3% in the 4th 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. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $2.31 during midday trading on Thursday, reaching $180.05. The company had a trading volume of 307,584 shares, compared to its average volume of 1,876,943. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.84. The company has a market capitalization of $71.57 billion, a P/E ratio of 15.31, a P/E/G ratio of 2.05 and a beta of 1.14. The firm’s fifty day simple moving average is $172.03 and its 200-day simple moving average is $160.19.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $5.40 billion. During the same period in the prior year, the company earned $3.36 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.55%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PNC. Citigroup upped their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada boosted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Finally, Morgan Stanley upped their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $177.02.

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 company’s 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 completion of the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 2,404 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,263 shares of company stock valued at $4,418,109. Corporate insiders own 0.42% of the company’s stock.

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.