The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,902 shares of the financial services provider’s stock after purchasing an additional 3,815 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in The PNC Financial Services Group were worth $5,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PNC. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group in the second quarter worth about $26,000. ORG Partners LLC lifted 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 acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Core Wealth Advisors Inc. purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

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

The PNC Financial Services Group Stock Up 0.6 %

PNC opened at $182.57 on Thursday. The firm has a market cap of $72.65 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.97 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 business has a 50 day moving average price of $176.37 and a 200 day moving average price of $162.50. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $185.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company earned $3.36 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts forecast 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. Stockholders of record on Monday, July 15th were given 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 dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PNC. Evercore ISI lifted their price target on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted 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 note on Wednesday, July 17th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Citigroup boosted 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 research report on Wednesday, July 17th. Finally, The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $176.90.

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.