Brown Brothers Harriman & Co. Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Brown Brothers Harriman & Co. lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,914 shares of the financial services provider’s stock after purchasing an additional 1,159 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in The PNC Financial Services Group were worth $3,407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC raised its position in The PNC Financial Services Group by 203.7% during 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 during the second quarter worth $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter valued at $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group in the first quarter valued at $29,000. Finally, Fortis Group Advisors LLC grew its position in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PNC shares. Morgan Stanley upped their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. UBS Group upped their price objective 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. The Goldman Sachs Group dropped their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Royal Bank of Canada boosted their target price on shares of 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $176.90.

The PNC Financial Services Group Trading Up 2.1 %

Shares of The PNC Financial Services Group stock opened at $180.98 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $185.84. The firm has a market capitalization of $71.94 billion, a PE ratio of 15.20, a P/E/G ratio of 1.97 and a beta of 1.14. The firm’s 50-day moving average price is $175.61 and its 200 day moving average price is $162.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share 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 business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the business posted $3.36 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is 53.74%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the sale, the chief executive officer now owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated 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 directly owns 567,682 shares in the company, valued at $86,900,760.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now owns 554,701 shares in the company, valued at $101,604,582.17. 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. 0.42% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

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.