Oppenheimer & Co. Inc. Sells 296 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Oppenheimer & Co. Inc. decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,123 shares of the financial services provider’s stock after selling 296 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in The PNC Financial Services Group were worth $1,885,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Valley Brook Capital Group Inc. boosted its position in The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 62 shares during the last quarter. Triangle Securities Wealth Management boosted its position in The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 70 shares during the last quarter. Cooper Financial Group boosted its position in The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 70 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in The PNC Financial Services Group by 22.3% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 390 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 71 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in The PNC Financial Services Group by 0.8% during the first quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock valued at $1,518,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 2.1 %

NYSE:PNC opened at $180.98 on Tuesday. 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 firm has a market cap of $71.94 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $185.84. The firm has a 50-day moving average price of $175.61 and a two-hundred day moving average price of $162.13.

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 firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $3.36 EPS. On average, equities 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 business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a dividend of $1.60 per share. This is an increase 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 dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider Activity

In other 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 directly owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value 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 approximately $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 directly owns 554,701 shares of the company’s stock, valued at $101,604,582.17. The disclosure for this sale can be found here. Insiders sold 25,263 shares of company stock valued at $4,418,109 in the last three months. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. UBS Group increased their price objective on shares of 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. Citigroup increased their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays increased their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $176.90.

About The PNC Financial Services Group

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.