ASB Consultores LLC Sells 849 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

ASB Consultores LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 22.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,903 shares of the financial services provider’s stock after selling 849 shares during the period. ASB Consultores LLC’s holdings in The PNC Financial Services Group were worth $451,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PNC. ORG Partners LLC grew its holdings in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares during the period. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $28,000. Palisade Asset Management LLC acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $29,000. Finally, Fortis Group Advisors LLC boosted its stake in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the completion of the transaction, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the completion of the transaction, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the completion of the transaction, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The disclosure for this sale can be found here. Insiders sold 24,622 shares of company stock valued at $4,319,914 over the last three months. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 2.5 %

PNC opened at $187.16 on Friday. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78. The company has a fifty day moving average price of $176.75 and a 200-day moving average price of $162.68. The firm has a market capitalization of $74.47 billion, a P/E ratio of 15.71, 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 current ratio of 0.83 and a quick ratio of 0.82.

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 for the quarter, topping the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.36 earnings per share. Equities research 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 firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. 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 3.42%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PNC shares. Jefferies Financial Group lifted their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley lifted 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 report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of 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, Royal Bank of Canada lifted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.