The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,794 shares of the financial services provider’s stock after selling 349 shares during the period. D.B. Root & Company LLC’s holdings in The PNC Financial Services Group were worth $1,421,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PNC. Mather Group LLC. raised its holdings in The PNC Financial Services Group by 63.9% in the 3rd quarter. Mather Group LLC. now owns 4,652 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 1,813 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in The PNC Financial Services Group by 88.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,217 shares of the financial services provider’s stock valued at $1,745,000 after acquiring an additional 6,678 shares during the last quarter. Morningstar Investment Services LLC raised its holdings in The PNC Financial Services Group by 40.2% in the 3rd quarter. Morningstar Investment Services LLC now owns 2,266 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 650 shares during the last quarter. Cape Cod Five Cents Savings Bank acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at $278,000. Finally, CWA Asset Management Group LLC grew its stake in shares of The PNC Financial Services Group by 25.8% during the 3rd quarter. CWA Asset Management Group LLC now owns 2,563 shares of the financial services provider’s stock valued at $315,000 after buying an additional 526 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares in the company, valued at approximately $87,061,400.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 2.3 %

NYSE:PNC traded up $3.55 on Friday, reaching $155.48. The stock had a trading volume of 2,706,290 shares, compared to its average volume of 1,482,709. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $155.18 and a 200 day moving average of $152.91. The stock has a market cap of $61.87 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.99%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PNC shares. Jefferies Financial Group lowered their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. 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. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.43.

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.