The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 33.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,510 shares of the financial services provider’s stock after acquiring an additional 635 shares during the period. Farther Finance Advisors LLC’s holdings in The PNC Financial Services Group were worth $392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Confluence Wealth Services Inc. raised its stake in shares of The PNC Financial Services Group by 22.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 18,561 shares of the financial services provider’s stock valued at $2,886,000 after acquiring an additional 3,341 shares during the period. Graypoint LLC increased its stake in The PNC Financial Services Group by 6.6% during the 2nd quarter. Graypoint LLC now owns 2,552 shares of the financial services provider’s stock worth $397,000 after buying an additional 158 shares during the period. Van ECK Associates Corp increased its stake in The PNC Financial Services Group by 8.4% during the 2nd quarter. Van ECK Associates Corp now owns 83,404 shares of the financial services provider’s stock worth $12,968,000 after buying an additional 6,437 shares during the period. Commonwealth Equity Services LLC increased its stake in The PNC Financial Services Group by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 187,036 shares of the financial services provider’s stock worth $29,080,000 after buying an additional 3,200 shares during the period. Finally, IFG Advisory LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $666,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the subject of several analyst reports. Citigroup boosted their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. The Goldman Sachs Group upped 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. Finally, Royal Bank of Canada upped 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 report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $177.02.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now owns 554,701 shares in the company, valued at $101,604,582.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The transaction 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 PNC Financial Services Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the sale, the chief executive officer now owns 554,701 shares in the company, valued at approximately $101,604,582.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,263 shares of company stock worth $4,418,109. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $182.36 on Thursday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.84. The stock has a market capitalization of $72.49 billion, a P/E ratio of 15.31, a P/E/G ratio of 2.05 and a beta of 1.14. The firm’s 50-day moving average is $172.03 and its two-hundred day moving average is $160.19. 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 released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the company earned $3.36 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a $1.60 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a yield of 3.51%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

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.