Argent Trust Co Has $996,000 Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Argent Trust Co lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,407 shares of the financial services provider’s stock after selling 200 shares during the period. Argent Trust Co’s holdings in The PNC Financial Services Group were worth $996,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the second quarter worth about $26,000. ORG Partners LLC lifted its stake in 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 last quarter. LRI Investments LLC acquired a new stake in The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter worth $29,000. Finally, Core Wealth Advisors Inc. acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $31,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore ISI raised their price objective 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. Royal Bank of Canada upped 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 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. The Goldman Sachs Group decreased their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $176.90.

Insider Activity

In other 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 completion of the sale, the chief executive officer now owns 554,701 shares in the company, valued at approximately $101,604,582.17. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s 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 in the company, valued at approximately $101,604,582.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The disclosure for this sale can be found here. Insiders sold 24,622 shares of company stock worth $4,319,914 in the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 2.5 %

Shares of PNC stock opened at $187.16 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The company has a 50 day moving average of $176.75 and a 200-day moving average of $162.68. The firm has a market cap of $74.47 billion, a P/E ratio of 15.71, a PEG ratio of 1.97 and a beta of 1.14.

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

The PNC Financial Services Group Increases Dividend

The business also recently declared 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. The ex-dividend date was Monday, July 15th. This is a boost 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 3.42%. The PNC Financial Services Group’s dividend payout ratio is currently 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.