The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Trimmed by Holistic Financial Partners

Holistic Financial Partners lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,251 shares of the financial services provider’s stock after selling 106 shares during the period. Holistic Financial Partners’ holdings in The PNC Financial Services Group were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. ORG Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 203.7% during 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 during the period. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at $26,000. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter worth $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter worth $29,000. Finally, Fortis Group Advisors LLC boosted its position in The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PNC shares. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Citigroup raised their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. UBS Group increased 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 note on Wednesday, July 17th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, 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 report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $177.02.

The PNC Financial Services Group Stock Performance

PNC opened at $185.09 on Friday. 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’s 50 day moving average price is $170.16 and its two-hundred day moving average price is $159.35. The firm has a market capitalization of $73.57 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.57.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the business earned $3.36 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a dividend of $1.60 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.46%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated 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 directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the transaction, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 28th. The shares were 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 in the company, valued at $86,900,760.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,021 shares of company stock valued at $4,190,611. Insiders own 0.42% of the company’s stock.

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.