1,175 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by Legacy Private Trust Co.

Legacy Private Trust Co. purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,175 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other institutional investors have also modified their holdings of the business. State of Tennessee Treasury Department raised its stake in The PNC Financial Services Group by 29.6% during the fourth quarter. State of Tennessee Treasury Department now owns 109,231 shares of the financial services provider’s stock valued at $16,914,000 after buying an additional 24,943 shares in the last quarter. MGO One Seven LLC raised its stake in The PNC Financial Services Group by 5.6% during the fourth quarter. MGO One Seven LLC now owns 20,773 shares of the financial services provider’s stock valued at $3,217,000 after buying an additional 1,109 shares in the last quarter. Jacobi Capital Management LLC raised its stake in The PNC Financial Services Group by 20.7% during the fourth quarter. Jacobi Capital Management LLC now owns 23,127 shares of the financial services provider’s stock valued at $3,581,000 after buying an additional 3,968 shares in the last quarter. Putnam Investments LLC raised its stake in The PNC Financial Services Group by 3.2% during the fourth quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock valued at $568,662,000 after buying an additional 114,960 shares in the last quarter. Finally, Washington Trust Bank raised its stake in The PNC Financial Services Group by 5.0% during the fourth quarter. Washington Trust Bank now owns 88,879 shares of the financial services provider’s stock valued at $13,763,000 after buying an additional 4,199 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PNC. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Citigroup upped their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Barclays upped their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $177.65.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares in the company, valued at approximately $99,315,570.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $176.67, for a total value of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares in the company, valued at $99,315,570.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were 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 of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,662 shares of company stock worth $4,420,820. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $180.82 on Wednesday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $187.78. The stock has a fifty day moving average price of $178.16 and a two-hundred day moving average price of $165.43. The firm has a market cap of $71.95 billion, a P/E ratio of 15.18, a PEG ratio of 1.97 and a beta of 1.14. 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 PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm earned $3.36 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.15 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.54%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 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.