9258 Wealth Management LLC Sells 75 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

9258 Wealth Management LLC trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,037 shares of the financial services provider’s stock after selling 75 shares during the quarter. 9258 Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,561,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. ORG Partners LLC lifted its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $26,000. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the first quarter worth $29,000. Finally, Fortis Group Advisors LLC raised its holdings in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the completion of the sale, the chief executive officer now owns 554,701 shares in the company, valued at $101,604,582.17. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at approximately $101,604,582.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the company’s 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 three months, insiders have sold 25,263 shares of company stock worth $4,418,109. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 1.3 %

Shares of NYSE:PNC traded down $2.31 during trading on Thursday, reaching $180.05. 307,584 shares of the stock traded hands, compared to its average volume of 1,876,943. The stock has a market cap of $71.57 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $185.84. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50-day moving average of $172.03 and a two-hundred day moving average of $160.19.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion for 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 company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.36 earnings per share. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal 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 paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.55%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of analyst reports. 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. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Barclays boosted 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. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Finally, Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock 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 issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $177.02.

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.