Sanctuary Advisors LLC Acquires New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sanctuary Advisors LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 94,313 shares of the financial services provider’s stock, valued at approximately $14,723,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank & Trust Co acquired a new position in The PNC Financial Services Group in the 2nd quarter worth about $26,000. ORG Partners LLC grew its holdings in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at $29,000. Finally, Core Wealth Advisors Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now directly owns 564,637 shares in the company, valued at approximately $90,341,920. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the sale, the chief executive officer now owns 567,041 shares in the company, valued at $89,649,182.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the transaction, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at $90,341,920. The disclosure for this sale can be found here. Insiders have sold 26,465 shares of company stock valued at $4,681,565 in the last quarter. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on PNC shares. Jefferies Financial Group upped their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada upped their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. UBS Group boosted their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays boosted their target price 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. Finally, Morgan Stanley lifted their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $177.65.

The PNC Financial Services Group Stock Down 0.3 %

PNC stock opened at $179.40 on Thursday. The business has a fifty day moving average price of $178.14 and a 200-day moving average price of $164.75. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $187.78. The stock has a market capitalization of $71.31 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $3.36 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current fiscal year.

The PNC Financial Services Group Company 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.