Blair William & Co. IL Increases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Blair William & Co. IL grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 216.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,739 shares of the financial services provider’s stock after buying an additional 31,289 shares during the quarter. Blair William & Co. IL’s holdings in The PNC Financial Services Group were worth $7,112,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Valley Brook Capital Group Inc. lifted its stake in The PNC Financial Services Group by 0.6% in the second 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 last quarter. Triangle Securities Wealth Management lifted its stake in shares of The PNC Financial Services Group by 1.8% during the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 70 shares during the last quarter. Cooper Financial Group boosted its holdings in The PNC Financial Services Group by 1.7% during 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 during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its position in 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 valued at $63,000 after acquiring an additional 71 shares during the last quarter. Finally, Ancora Advisors LLC increased its stake in The PNC Financial Services Group by 0.8% in the first quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 73 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

PNC stock opened at $186.36 on Friday. The firm has a 50-day simple moving average of $177.11 and a two-hundred day simple moving average of $162.90. 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, Inc. has a one year low of $109.40 and a one year high of $187.78. The firm has a market cap of $74.08 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.00 and a beta of 1.14.

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 for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm earned $3.36 earnings per share. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. 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%.

Insider Activity

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’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 SEC, which can be accessed through the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction 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 completion of the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the sale, the chief executive officer now directly owns 567,041 shares in the company, valued at $89,649,182.10. The disclosure for this sale can be found here. Insiders have sold a total of 24,622 shares of company stock worth $4,319,914 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PNC shares. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, UBS Group lifted their target price on 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $176.90.

The PNC Financial Services Group 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.