Ameritas Investment Partners Inc. Purchases 127 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Ameritas Investment Partners Inc. boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,896 shares of the financial services provider’s stock after buying an additional 127 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in The PNC Financial Services Group were worth $3,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PNC. Grayhawk Investment Strategies Inc. purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $1,200,000. Envestnet Asset Management Inc. grew its position in shares of The PNC Financial Services Group by 0.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock worth $239,792,000 after buying an additional 6,657 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $23,578,000. Integrated Advisors Network LLC raised its holdings in shares of The PNC Financial Services Group by 7.3% during the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 148 shares in the last quarter. Finally, Equity Investment Corp lifted its stake in The PNC Financial Services Group by 3.4% in the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after acquiring an additional 22,188 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.4 %

NYSE:PNC opened at $186.36 on Friday. 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 $74.08 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.00 and a beta of 1.14. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. The firm has a 50-day simple moving average of $177.11 and a two-hundred day simple moving average of $162.90.

The PNC Financial Services Group (NYSE:PNC) last announced 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 company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $3.36 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.43%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Analysts Set New Price Targets

PNC has been the subject of several research reports. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods increased 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 research note on Wednesday, July 17th. Royal Bank of Canada lifted their price objective 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. Citigroup increased their target price on 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, UBS Group lifted their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $176.90.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction 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 completion of the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,622 shares of company stock valued at $4,319,914. 0.42% of the stock is owned by insiders.

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.