Pine Valley Investments Ltd Liability Co Has $873,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pine Valley Investments Ltd Liability Co lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,615 shares of the financial services provider’s stock after selling 994 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in The PNC Financial Services Group were worth $873,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PNC. Norges Bank acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $1,039,481,000. Franklin Resources Inc. lifted its holdings in shares of The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after purchasing an additional 3,046,226 shares during the period. Capital International Investors lifted its holdings in shares of The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after purchasing an additional 1,978,854 shares during the period. Capital Research Global Investors lifted its holdings in shares of The PNC Financial Services Group by 19.5% during the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after purchasing an additional 778,264 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of The PNC Financial Services Group by 4,040.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock worth $62,878,000 after purchasing an additional 396,252 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at $97,929,359.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were 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 directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at $97,929,359.45. The disclosure for this sale can be found here. Insiders sold a total of 24,021 shares of company stock valued at $4,190,611 over the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 1.1 %

PNC opened at $185.09 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $185.57. 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 company has a market cap of $73.57 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The company has a fifty day moving average price of $170.16 and a two-hundred day moving average price of $159.35.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.36 earnings per share. 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. Stockholders of record on Monday, July 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, July 15th. This is an increase 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 3.46%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $177.02.

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.