Atria Wealth Solutions Inc. Sells 257 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Atria Wealth Solutions Inc. trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,280 shares of the financial services provider’s stock after selling 257 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in The PNC Financial Services Group were worth $3,930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group during the fourth quarter worth about $26,000. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $26,000. ORG Partners LLC grew its position in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Finally, Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the sale, the chief executive officer now owns 557,185 shares in the company, valued at $95,724,383. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction 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 completion of the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the transaction, the chief executive officer now directly owns 557,185 shares in the company, valued at $95,724,383. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,779 shares of company stock worth $3,971,833. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research analyst reports. Royal Bank of Canada upped 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 report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Morgan Stanley increased their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $177.02.

The PNC Financial Services Group Stock Down 0.1 %

Shares of The PNC Financial Services Group stock traded down $0.22 on Wednesday, reaching $173.37. 1,076,332 shares of the company were exchanged, compared to its average volume of 1,908,300. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $182.84. 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 company has a 50-day moving average of $166.38 and a 200 day moving average of $157.87. The company has a market capitalization of $68.99 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 2.14 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm posted $3.36 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.13 earnings per share 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 $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a yield of 3.69%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 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.