Epoch Investment Partners Inc. Decreases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Epoch Investment Partners Inc. lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 377,107 shares of the financial services provider’s stock after selling 16,103 shares during the period. Epoch Investment Partners Inc. owned about 0.09% of The PNC Financial Services Group worth $58,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PNC. Frank Rimerman Advisors LLC raised its position in The PNC Financial Services Group by 7,689.2% in the second quarter. Frank Rimerman Advisors LLC now owns 2,882 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 2,845 shares during the period. Prospector Partners LLC raised its holdings in shares of The PNC Financial Services Group by 0.8% during the 2nd quarter. Prospector Partners LLC now owns 77,350 shares of the financial services provider’s stock valued at $12,026,000 after buying an additional 650 shares during the period. ProShare Advisors LLC lifted its position in The PNC Financial Services Group by 4.8% during the 2nd quarter. ProShare Advisors LLC now owns 80,785 shares of the financial services provider’s stock worth $12,560,000 after acquiring an additional 3,682 shares in the last quarter. Kowal Investment Group LLC boosted its holdings in The PNC Financial Services Group by 2.6% in the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after acquiring an additional 68 shares during the period. Finally, Summit Trail Advisors LLC grew its position in The PNC Financial Services Group by 3.8% in the second quarter. Summit Trail Advisors LLC now owns 2,384 shares of the financial services provider’s stock valued at $371,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction dated 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 transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the sale, the chief executive officer now owns 554,701 shares in the company, valued at approximately $101,604,582.17. The disclosure for this sale can be found here. Insiders sold 24,622 shares of company stock worth $4,319,914 in the last 90 days. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. 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 on the stock in a research report on Wednesday, September 11th. Evercore ISI increased their price target 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. Finally, Jefferies Financial Group lifted 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $176.90.

The PNC Financial Services Group Stock Down 0.4 %

PNC stock opened at $186.36 on Monday. The firm has a market cap of $74.15 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, Inc. has a 1-year low of $109.40 and a 1-year high of $187.78. The firm has a fifty day moving average price of $177.11 and a two-hundred day moving average price of $163.04. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating 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 business 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 revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

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.