Ascent Group LLC Has $1.18 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ascent Group LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,594 shares of the financial services provider’s stock after purchasing an additional 768 shares during the quarter. Ascent Group LLC’s holdings in The PNC Financial Services Group were worth $1,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Valley Brook Capital Group Inc. raised its stake 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 valued at $1,648,000 after purchasing an additional 62 shares during the period. Kowal Investment Group LLC raised its stake in shares of 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 valued at $411,000 after purchasing an additional 68 shares during the period. Ranch Capital Advisors Inc. raised its stake in shares of The PNC Financial Services Group by 1.0% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after purchasing an additional 69 shares during the period. Triangle Securities Wealth Management raised its stake in shares of The PNC Financial Services Group by 1.8% in the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 70 shares during the period. Finally, Cooper Financial Group raised its stake in shares of 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 valued at $685,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,465 shares of company stock worth $4,681,565. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PNC. Evercore ISI raised their price objective 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. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. UBS Group raised their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $176.90.

The PNC Financial Services Group Trading Up 1.0 %

Shares of PNC stock opened at $184.84 on Tuesday. The firm has a 50 day moving average price of $178.08 and a two-hundred day moving average price of $164.43. 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 capitalization of $73.47 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (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 the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $3.36 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

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.