The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,137 shares of the financial services provider’s stock after buying an additional 69 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,110,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Gilbert & Cook Inc. increased its position in The PNC Financial Services Group by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock worth $462,000 after buying an additional 107 shares during the period. Gryphon Financial Partners LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at $228,000. ING Groep NV increased its stake in The PNC Financial Services Group by 13.1% in the 4th quarter. ING Groep NV now owns 1,679 shares of the financial services provider’s stock valued at $260,000 after buying an additional 194 shares during the period. CreativeOne Wealth LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $235,000. Finally, Assetmark Inc. increased its stake in shares of The PNC Financial Services Group by 12.4% during the fourth quarter. Assetmark Inc. now owns 67,030 shares of the financial services provider’s stock worth $10,380,000 after acquiring an additional 7,405 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 2.5 %

PNC stock opened at $187.16 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The company has a market cap of $74.47 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.97 and a beta of 1.14. The business has a fifty day simple moving average of $176.75 and a 200-day simple moving average of $162.68. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results 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 business had revenue of $5.41 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $3.36 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company 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 is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the sale, the chief executive officer now owns 563,395 shares in the company, valued at approximately $94,368,662.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,622 shares of company stock worth $4,319,914. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent analyst reports. Barclays boosted their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research 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 research report on Wednesday, May 29th. Evercore ISI lifted their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley increased their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. 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 company presently has an average rating of “Hold” and a consensus target price of $176.90.

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.