The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,914 shares of the financial services provider’s stock after purchasing an additional 1,159 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in The PNC Financial Services Group were worth $3,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Valley Brook Capital Group Inc. lifted its position in The PNC Financial Services Group by 0.6% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after acquiring an additional 62 shares during the period. Triangle Securities Wealth Management lifted its holdings in shares of The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares during the period. Cooper Financial Group grew its position in The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after buying an additional 70 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in The PNC Financial Services Group by 22.3% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 390 shares of the financial services provider’s stock valued at $63,000 after buying an additional 71 shares during the period. Finally, Ancora Advisors LLC raised its position in The PNC Financial Services Group by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock worth $1,518,000 after buying an additional 73 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 2.1 %

Shares of PNC opened at $180.98 on Tuesday. 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, Inc. has a 1-year low of $109.40 and a 1-year high of $185.84. The stock has a market cap of $71.94 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The firm has a 50 day simple moving average of $175.61 and a 200-day simple moving average of $162.13.

The PNC Financial Services Group (NYSE:PNC) last released 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 during 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% compared to the same quarter last year. During the same quarter last year, the business posted $3.36 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a dividend of $1.60 per share. This is a boost 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 3.54%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Analyst Upgrades and Downgrades

PNC has been the topic of several analyst reports. Citigroup lifted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. UBS Group boosted their target price on 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. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. The Goldman Sachs Group decreased their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Morgan Stanley increased 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 analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $176.90.

Insider Transactions at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the company’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 transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’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 completion of the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the sale, the chief executive officer now owns 554,701 shares in the company, valued at approximately $101,604,582.17. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock worth $4,418,109 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

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.