Profund Advisors LLC Has $1.02 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Profund Advisors LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,561 shares of the financial services provider’s stock after selling 352 shares during the quarter. Profund Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,020,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Bank & Trust Co acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $26,000. ORG Partners LLC raised its holdings in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new stake in The PNC Financial Services Group during the first quarter valued at $28,000. Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at about $29,000. Finally, Core Wealth Advisors Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $89,649,182.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group 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 completion of the transaction, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,864 shares of company stock valued at $4,551,485. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. Citigroup boosted their price target 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. Jefferies Financial Group increased their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley raised 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $176.90.

The PNC Financial Services Group Trading Down 0.7 %

Shares of PNC opened at $185.09 on Tuesday. The stock’s 50-day moving average price is $177.43 and its 200 day moving average price is $163.29. 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 PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78. The firm has a market capitalization of $73.65 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 2.00 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $3.36 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.46%. The ex-dividend date was Monday, July 15th. This is a positive change 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%.

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.