Farther Finance Advisors LLC Buys 635 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Farther Finance Advisors LLC lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 33.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,510 shares of the financial services provider’s stock after buying an additional 635 shares during the period. Farther Finance Advisors LLC’s holdings in The PNC Financial Services Group were worth $392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC boosted its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the last quarter. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $26,000. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at approximately $29,000. Finally, Fortis Group Advisors LLC lifted its stake in The PNC Financial Services Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $182.36 on Thursday. 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, Inc. has a one year low of $109.40 and a one year high of $185.84. The company has a 50-day simple moving average of $172.03 and a two-hundred day simple moving average of $160.19. The firm has a market capitalization of $72.49 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 2.05 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 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 last year, the firm earned $3.36 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given 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 3.51%. 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 (DPR) is 53.74%.

Analyst Upgrades and Downgrades

PNC has been the topic of several research analyst reports. Barclays upped their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Royal Bank of Canada upped their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. UBS Group increased their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.02.

Insider Activity at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the firm’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 completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the firm’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 completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 28th. The stock was 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 directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders sold 25,263 shares of company stock valued at $4,418,109 over the last 90 days. Corporate 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.