Nemes Rush Group LLC Has $460,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Nemes Rush Group LLC cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.9% in the second quarter, Holdings Channel.com reports. The fund owned 2,956 shares of the financial services provider’s stock after selling 362 shares during the quarter. Nemes Rush Group LLC’s holdings in The PNC Financial Services Group were worth $460,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PNC. Ascent Group LLC lifted its stake in shares of The PNC Financial Services Group by 11.3% in the 2nd quarter. Ascent Group LLC now owns 7,594 shares of the financial services provider’s stock valued at $1,181,000 after purchasing an additional 768 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in The PNC Financial Services Group by 25.3% during the second quarter. Kathmere Capital Management LLC now owns 6,792 shares of the financial services provider’s stock valued at $1,056,000 after buying an additional 1,372 shares in the last quarter. Scientech Research LLC raised its holdings in The PNC Financial Services Group by 317.8% during the second quarter. Scientech Research LLC now owns 5,925 shares of the financial services provider’s stock valued at $921,000 after buying an additional 4,507 shares in the last quarter. Legal & General Group Plc lifted its position in shares of The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after buying an additional 223,955 shares during the last quarter. Finally, Lighthouse Investment Partners LLC boosted its stake in shares of The PNC Financial Services Group by 53.3% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 17,187 shares of the financial services provider’s stock worth $2,672,000 after acquiring an additional 5,977 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their price objective 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. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted 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. Finally, UBS Group upped their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two investment 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 currently has an average rating of “Hold” and a consensus price target of $176.90.

The PNC Financial Services Group Trading Down 0.1 %

The PNC Financial Services Group stock opened at $183.07 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $187.78. The stock has a market cap of $72.77 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The business has a 50 day moving average price of $177.92 and a two-hundred day moving average price of $164.10. 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 PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 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 firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the business earned $3.36 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast 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 dividend of $1.60 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s payout ratio is 53.74%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now owns 550,975 shares in the company, valued at $102,729,288.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction 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 have sold a total of 25,223 shares of company stock valued at $4,453,360 over the last quarter. 0.42% of the stock is owned by company insiders.

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.