Dorsey & Whitney Trust CO LLC Reduces Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Dorsey & Whitney Trust CO LLC lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,776 shares of the financial services provider’s stock after selling 114 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in The PNC Financial Services Group were worth $743,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilbert & Cook Inc. increased its holdings in shares of The PNC Financial Services Group by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock worth $462,000 after buying an additional 107 shares during the last quarter. Gryphon Financial Partners LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at $228,000. Principal Securities Inc. acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $518,000. Quotient Wealth Partners LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $206,000. Finally, Westpac Banking Corp increased its position in shares of The PNC Financial Services Group by 11.8% during the 4th quarter. Westpac Banking Corp now owns 2,857 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 301 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was 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 of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the transaction, the chief executive officer now owns 563,395 shares of the company’s stock, valued at $94,368,662.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,263 shares of company stock worth $4,418,109. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PNC. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Citigroup lifted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays boosted their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Morgan Stanley raised their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $176.90.

The PNC Financial Services Group Stock Down 0.9 %

Shares of NYSE:PNC opened at $177.12 on Thursday. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $185.84. The firm’s 50 day moving average price is $174.35 and its 200 day moving average price is $161.33. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The stock has a market cap of $70.41 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

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 return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the firm posted $3.36 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend. This is a boost 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 dividend yield of 3.61%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 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.