Versor Investments LP Reduces Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Versor Investments LP trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 52.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400 shares of the financial services provider’s stock after selling 2,600 shares during the quarter. Versor Investments LP’s holdings in The PNC Financial Services Group were worth $373,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PNC. ORG Partners LLC boosted 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 buying an additional 110 shares during the last quarter. Bank & Trust Co purchased a new position in The PNC Financial Services Group during the second quarter worth about $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at about $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $29,000. Finally, Fortis Group Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after buying an additional 100 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction 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 completion of the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold 25,263 shares of company stock worth $4,418,109 in the last ninety days. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Down 0.8 %

NYSE:PNC opened at $180.95 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $185.84. The stock has a market cap of $71.93 billion, a P/E ratio of 15.19, a P/E/G ratio of 2.05 and a beta of 1.14. 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 stock has a 50-day simple moving average of $172.61 and a 200-day simple moving average of $160.33.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.40 billion. During the same period in the prior year, the company posted $3.36 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.54%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Citigroup increased their target price 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. Jefferies Financial Group boosted their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Evercore ISI increased their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $177.02.

About The PNC Financial Services Group

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.