The PNC Financial Services Group, Inc (NYSE:PNC) Shares Sold by Gries Financial LLC

Gries Financial LLC trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,872 shares of the financial services provider’s stock after selling 802 shares during the period. Gries Financial LLC’s holdings in The PNC Financial Services Group were worth $2,087,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its stake in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 65 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in The PNC Financial Services Group in the 1st quarter worth approximately $35,000. REAP Financial Group LLC lifted its stake in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Hoey Investments Inc. purchased a new position in The PNC Financial Services Group in the 4th quarter worth approximately $39,000. Finally, True Wealth Design LLC lifted its stake in The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 59 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the business’s stock in a transaction on Friday, April 25th. The shares were bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director directly owned 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,904 shares of company stock worth $1,493,609. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on PNC. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an “underweight” rating in a research report on Thursday. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Barclays cut their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Raymond James Financial raised The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 target price on the stock in a research report on Tuesday, July 8th. Finally, Bank of America boosted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $212.76.

The PNC Financial Services Group Stock Up 0.0%

The PNC Financial Services Group stock opened at $196.54 on Monday. The stock’s 50 day moving average price is $182.39 and its 200 day moving average price is $180.13. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a market cap of $77.74 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.39 earnings per share. On average, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be given a $1.70 dividend. The ex-dividend date is Tuesday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.46%. The PNC Financial Services Group’s dividend payout ratio is currently 46.51%.

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.