The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by First County Bank CT

First County Bank CT decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.9% in the second quarter, HoldingsChannel reports. The firm owned 8,079 shares of the financial services provider’s stock after selling 884 shares during the quarter. First County Bank CT’s holdings in The PNC Financial Services Group were worth $1,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Capital International Investors boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after acquiring an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. lifted its position in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the period. Capital Research Global Investors boosted its holdings in The PNC Financial Services Group by 19.5% in the fourth 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 during the last quarter. Putnam Investments LLC grew its position in The PNC Financial Services Group by 3.2% during the 4th quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock worth $568,662,000 after purchasing an additional 114,960 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after buying an additional 223,955 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now directly owns 567,041 shares in the company, valued at $89,649,182.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the transaction, the chief executive officer now owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were 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 disclosure for this sale can be found here. Insiders sold 25,223 shares of company stock worth $4,453,360 over the last three months. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.9 %

PNC stock opened at $183.33 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78. The business’s 50-day moving average is $177.77 and its 200 day moving average is $163.79. 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 stock has a market cap of $72.95 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 2.03 and a beta of 1.14.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company posted $3.36 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced 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 a positive change 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 dividend on an annualized basis and a dividend yield of 3.49%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PNC. Barclays raised their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada increased their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $176.90.

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.