Bradley Foster & Sargent Inc. CT Acquires 388 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bradley Foster & Sargent Inc. CT boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,839 shares of the financial services provider’s stock after buying an additional 388 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in The PNC Financial Services Group were worth $1,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Denali Advisors LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $715,000. Citizens Financial Group Inc. RI grew its stake in The PNC Financial Services Group by 2.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 16,169 shares of the financial services provider’s stock valued at $2,514,000 after buying an additional 394 shares during the last quarter. One Capital Management LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $463,000. Dimensional Fund Advisors LP grew its position in The PNC Financial Services Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after purchasing an additional 100,993 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of The PNC Financial Services Group by 5.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 21,914 shares of the financial services provider’s stock worth $3,407,000 after purchasing an additional 1,159 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $182.57 on Thursday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $185.84. The firm’s 50 day moving average is $176.37 and its 200-day moving average is $162.50. The firm has a market capitalization of $72.65 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.97 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $3.36 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PNC shares. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their price objective 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. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Royal Bank of Canada boosted their price objective 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. Finally, UBS Group upped 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 note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $176.90.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the sale, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,263 shares of company stock worth $4,418,109. Corporate insiders own 0.42% of the company’s stock.

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.