The PNC Financial Services Group, Inc. (NYSE:PNC) Position Increased by Souders Financial Advisors

Souders Financial Advisors lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 22,408 shares of the financial services provider’s stock after buying an additional 496 shares during the quarter. Souders Financial Advisors’ holdings in The PNC Financial Services Group were worth $3,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. New Wave Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group in the second quarter worth about $278,000. KPP Advisory Services LLC lifted its position in shares of The PNC Financial Services Group by 8.9% in the second quarter. KPP Advisory Services LLC now owns 3,531 shares of the financial services provider’s stock worth $549,000 after purchasing an additional 288 shares in the last quarter. Founders Financial Alliance LLC lifted its stake in The PNC Financial Services Group by 2.8% in the second quarter. Founders Financial Alliance LLC now owns 3,970 shares of the financial services provider’s stock valued at $617,000 after acquiring an additional 107 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of The PNC Financial Services Group by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 117,328 shares of the financial services provider’s stock worth $18,242,000 after buying an additional 4,745 shares during the last quarter. Finally, 3Chopt Investment Partners LLC bought a new position in The PNC Financial Services Group during the second quarter worth about $290,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $184.84 on Tuesday. The stock’s fifty day moving average is $178.08 and its two-hundred day moving average is $164.43. The firm has a market capitalization of $73.55 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.02 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 PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate 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 PNC Financial Services Group’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.36 EPS. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the completion of the sale, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at approximately $89,649,182.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the sale, the chief executive officer now owns 563,395 shares in the company, valued at $94,368,662.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the transaction, the chief executive officer now owns 567,041 shares in the company, valued at approximately $89,649,182.10. The disclosure for this sale can be found here. Insiders sold a total of 26,465 shares of company stock valued at $4,681,565 in the last three months. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on PNC. Barclays lifted their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. 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. Royal Bank of Canada upped their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Two equities 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $176.90.

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.