The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 22.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,976 shares of the financial services provider’s stock after buying an additional 2,697 shares during the period. Ieq Capital LLC’s holdings in The PNC Financial Services Group were worth $2,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $26,000. ORG Partners LLC increased its position in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the period. LRI Investments LLC bought a new stake in The PNC Financial Services Group in the first quarter valued at $28,000. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter valued at $29,000. Finally, Core Wealth Advisors Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of analyst reports. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Keefe, Bruyette & Woods increased their price objective on 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. Royal Bank of Canada lifted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley increased their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Two research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $176.90.

Insider Buying and Selling

In other news, President Michael P. Lyons sold 11,000 shares of the 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 owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,997,380.00. Following the sale, 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. In the last 90 days, insiders sold 24,622 shares of company stock valued at $4,319,914. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $186.36 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 stock has a market capitalization 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 firm’s 50 day moving average is $177.11 and its 200-day moving average is $162.96. 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 released its quarterly earnings data 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 analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $3.36 EPS. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. 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. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

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.