Andra AP fonden Sells 300 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Andra AP fonden trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,900 shares of the financial services provider’s stock after selling 300 shares during the period. Andra AP fonden’s holdings in The PNC Financial Services Group were worth $6,670,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. Gilbert & Cook Inc. boosted its holdings in shares of The PNC Financial Services Group by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock worth $462,000 after buying an additional 107 shares in the last quarter. Gryphon Financial Partners LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $228,000. Principal Securities Inc. bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $518,000. Quotient Wealth Partners LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $206,000. Finally, Westpac Banking Corp lifted its holdings in shares of The PNC Financial Services Group by 11.8% in the 4th quarter. Westpac Banking Corp now owns 2,857 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 301 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated 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 sale, the president now 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 hyperlink. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock valued at $4,418,109 in the last ninety days. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Down 0.9 %

Shares of The PNC Financial Services Group stock opened at $177.12 on Thursday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $185.84. The firm has a market cap of $70.41 billion, a PE ratio of 14.87, a P/E/G ratio of 1.96 and a beta of 1.14. The stock has a fifty day moving average price of $174.35 and a 200-day moving average price of $161.33. 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 earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm posted $3.36 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a dividend of $1.60 per share. 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. This represents a $6.40 annualized dividend and a dividend yield of 3.61%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays increased their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a 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 report on Thursday, August 15th. Evercore ISI increased their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group increased their target price 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. Finally, Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Two 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $176.90.

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.