FDx Advisors Inc. Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

FDx Advisors Inc. decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 90.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,793 shares of the financial services provider’s stock after selling 16,458 shares during the quarter. FDx Advisors Inc.’s holdings in The PNC Financial Services Group were worth $279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth $26,000. ORG Partners LLC increased its stake in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $28,000. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,000. Finally, Core Wealth Advisors Inc. purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the sale, the chief executive officer now directly owns 554,701 shares in the company, valued at approximately $101,604,582.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock valued at $4,418,109 over the last 90 days. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

PNC has been the topic of a number of recent research reports. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted 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. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group increased their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $177.02.

The PNC Financial Services Group Price Performance

PNC opened at $180.95 on Friday. The company has a market capitalization of $71.93 billion, a P/E ratio of 15.19, a PEG ratio of 2.05 and a beta of 1.14. The company has a 50-day moving average of $172.61 and a 200-day moving average of $160.33. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $185.84.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company earned $3.36 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a dividend of $1.60 per share. 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. This represents a $6.40 annualized dividend and a yield of 3.54%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

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.