122,019 Shares in The PNC Financial Services Group, Inc $PNC Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, HoldingsChannel reports. The fund purchased 122,019 shares of the financial services provider’s stock, valued at approximately $30,044,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 2nd quarter valued at $28,000. Monetary Solutions Ltd acquired a new position in The PNC Financial Services Group in the 4th quarter worth $25,000. Quarry LP acquired a new position in The PNC Financial Services Group in the 3rd quarter worth $25,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $29,000. Finally, Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group during the first quarter valued at about $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.0%

Shares of The PNC Financial Services Group stock opened at $243.05 on Monday. The stock has a market capitalization of $96.96 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.96 and a beta of 0.91. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $258.96. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The business’s 50 day simple moving average is $248.28 and its 200-day simple moving average is $229.35.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm posted $3.85 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a $2.00 dividend. The ex-dividend date was Monday, July 20th. This represents a $8.00 annualized dividend and a yield of 3.3%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is 44.03%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Argus upped their price target on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Barclays increased their price target on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, UBS Group upped their price objective on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average target price of $265.73.

Insider Activity

In other news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Stacy M. Juchno sold 3,354 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 51,654 shares of company stock valued at $11,552,661. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.