Sei Investments Co. Has $57.96 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sei Investments Co. increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 372,791 shares of the financial services provider’s stock after acquiring an additional 25,868 shares during the period. Sei Investments Co. owned 0.09% of The PNC Financial Services Group worth $57,961,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PNC. Valley Brook Capital Group Inc. increased its holdings in shares of The PNC Financial Services Group by 0.6% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 62 shares during the period. Ranch Capital Advisors Inc. increased its stake in The PNC Financial Services Group by 1.0% during the second quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after acquiring an additional 69 shares during the period. Triangle Securities Wealth Management raised its holdings in The PNC Financial Services Group by 1.8% in the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 70 shares in the last quarter. Cooper Financial Group raised its holdings in The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 70 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of The PNC Financial Services Group by 22.3% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 390 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 71 shares during the period. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNC. UBS Group lifted their target price on shares of 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. Evercore ISI lifted 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. The Goldman Sachs Group dropped 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 report on Wednesday, September 11th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, Citigroup upped their price target on 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. Two research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $176.90.

Insider Activity at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the company’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 transaction 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 hyperlink. In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 three months, insiders have sold 24,622 shares of company stock worth $4,319,914. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Down 0.4 %

The PNC Financial Services Group stock opened at $186.36 on Monday. 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 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’s 50-day simple moving average is $177.11 and its 200 day simple moving average is $163.04. The stock has a market cap of $74.15 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the business 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 predict 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.43%. This is a positive change 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 payout ratio is currently 53.74%.

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.