Ameriprise Financial Inc. Has $746.77 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ameriprise Financial Inc. lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,802,981 shares of the financial services provider’s stock after buying an additional 18,397 shares during the period. Ameriprise Financial Inc.’s holdings in The PNC Financial Services Group were worth $746,772,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $26,000. ORG Partners LLC lifted its position in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter worth $28,000. Palisade Asset Management LLC bought a new position in The PNC Financial Services Group in the first quarter valued at $29,000. Finally, Core Wealth Advisors Inc. acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at $31,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 1.5 %

The PNC Financial Services Group stock opened at $181.77 on Thursday. The company’s 50-day moving average price is $177.58 and its two-hundred day moving average price is $163.53. 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 $72.25 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.03 and a beta of 1.14. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.36 earnings per share. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current 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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.52%. 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. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was 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 in the company, valued at $36,151,670.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the transaction, the chief executive officer now owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the firm’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 transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Insiders sold 25,864 shares of company stock valued at $4,551,485 in the last quarter. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays increased their price target 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. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. 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 report on Wednesday, July 17th. 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 stock an “overweight” 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $176.90.

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.