LGT Financial Advisors LLC Sells 572 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

LGT Financial Advisors LLC decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 54.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 471 shares of the financial services provider’s stock after selling 572 shares during the period. LGT Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $73,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Crumly & Associates Inc. lifted its holdings in The PNC Financial Services Group by 3.1% in the second quarter. Crumly & Associates Inc. now owns 3,022 shares of the financial services provider’s stock valued at $470,000 after buying an additional 91 shares during the period. National Bank of Canada FI lifted its holdings in shares of The PNC Financial Services Group by 97.6% during the second quarter. National Bank of Canada FI now owns 200,511 shares of the financial services provider’s stock worth $31,307,000 after buying an additional 99,055 shares in the last quarter. Foster & Motley Inc. increased its position in shares of The PNC Financial Services Group by 6.3% in the second quarter. Foster & Motley Inc. now owns 1,700 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 100 shares during the period. Impact Partnership Wealth LLC raised its stake in The PNC Financial Services Group by 7.8% during the second quarter. Impact Partnership Wealth LLC now owns 5,145 shares of the financial services provider’s stock worth $800,000 after acquiring an additional 374 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of The PNC Financial Services Group by 4.4% during the second quarter. TD Asset Management Inc now owns 183,037 shares of the financial services provider’s stock worth $28,459,000 after purchasing an additional 7,781 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the sale, the chief executive officer now owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction dated 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 owns 199,095 shares in the company, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,263 shares of company stock valued at $4,418,109. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

PNC has been the subject of a number of research reports. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Morgan Stanley raised their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Citigroup increased their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $177.02.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $180.95 on Friday. The firm’s fifty day moving average is $172.61 and its two-hundred day moving average is $160.33. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $185.84. The company has a market cap of $71.93 billion, a P/E ratio of 15.19, a P/E/G ratio of 2.05 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping 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 company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $3.36 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a dividend of $1.60 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.54%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

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.