Summit Trail Advisors LLC Has $371,000 Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Summit Trail Advisors LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,384 shares of the financial services provider’s stock after acquiring an additional 87 shares during the quarter. Summit Trail Advisors LLC’s holdings in The PNC Financial Services Group were worth $371,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Valley Brook Capital Group Inc. raised its holdings in shares of The PNC Financial Services Group by 0.6% in the 2nd 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 period. Ranch Capital Advisors Inc. raised its stake in shares of The PNC Financial Services Group by 1.0% in the second quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 69 shares during the period. Triangle Securities Wealth Management lifted its position 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 valued at $649,000 after buying an additional 70 shares during the last quarter. Cooper Financial Group increased its holdings in The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 70 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its stake 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 period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.7 %

PNC opened at $185.09 on Tuesday. The business’s fifty day simple moving average is $177.43 and its 200 day simple moving average is $163.29. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78. 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 stock has a market cap of $73.65 billion, a PE 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 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 company had revenue of $5.41 billion for 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 revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $3.36 EPS. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 3.46%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PNC shares. UBS Group lifted their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $185.00 to $200.00 in a report on Thursday, August 15th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Royal Bank of Canada raised their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $176.90.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction 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 owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,864 shares of company stock valued at $4,551,485. Insiders own 0.42% of the company’s stock.

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.