The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Wealth Advisors of Tampa Bay LLC

Wealth Advisors of Tampa Bay LLC grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,218 shares of the financial services provider’s stock after purchasing an additional 450 shares during the period. Wealth Advisors of Tampa Bay LLC’s holdings in The PNC Financial Services Group were worth $2,677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital International Investors grew its position in The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after buying an additional 1,978,854 shares during the period. Capital Research Global Investors increased its stake in The PNC Financial Services Group by 19.5% in the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in The PNC Financial Services Group by 4,040.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock worth $62,878,000 after purchasing an additional 396,252 shares during the last quarter. Jennison Associates LLC boosted its position in The PNC Financial Services Group by 38.4% during the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after purchasing an additional 291,769 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $187.16 on Friday. The stock has a fifty day moving average price of $176.75 and a 200 day moving average price of $162.68. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78. The firm has a market capitalization of $74.47 billion, a P/E ratio of 15.71, a PEG ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm posted $3.36 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the transaction, the chief executive officer now owns 567,041 shares in the company, valued at $89,649,182.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 567,041 shares in the company, valued at $89,649,182.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Insiders sold 24,622 shares of company stock valued at $4,319,914 in the last ninety days. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PNC shares. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. UBS Group lifted their target price 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. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Morgan Stanley raised 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. Finally, Barclays upped their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.