Commonwealth Retirement Investments LLC Has $2.30 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Commonwealth Retirement Investments LLC raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 34.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,763 shares of the financial services provider’s stock after buying an additional 3,766 shares during the quarter. The PNC Financial Services Group comprises approximately 1.1% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 28th biggest holding. Commonwealth Retirement Investments LLC’s holdings in The PNC Financial Services Group were worth $2,295,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PNC. Lake Street Advisors Group LLC boosted its stake in The PNC Financial Services Group by 1.8% in the 2nd quarter. Lake Street Advisors Group LLC now owns 11,325 shares of the financial services provider’s stock worth $1,761,000 after purchasing an additional 199 shares during the period. Savant Capital LLC boosted its position in shares of The PNC Financial Services Group by 0.7% during the second quarter. Savant Capital LLC now owns 12,032 shares of the financial services provider’s stock worth $1,871,000 after buying an additional 79 shares during the period. Candriam S.C.A. grew its holdings in shares of The PNC Financial Services Group by 55.1% during the second quarter. Candriam S.C.A. now owns 217,664 shares of the financial services provider’s stock worth $33,841,000 after buying an additional 77,286 shares in the last quarter. Private Advisor Group LLC raised its position in The PNC Financial Services Group by 8.0% in the 2nd quarter. Private Advisor Group LLC now owns 66,281 shares of the financial services provider’s stock valued at $10,305,000 after buying an additional 4,912 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its stake in The PNC Financial Services Group by 1.0% in the 2nd quarter. New York Life Investment Management LLC now owns 60,653 shares of the financial services provider’s stock valued at $9,430,000 after acquiring an additional 573 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the transaction, the chief executive officer now owns 563,395 shares in the company, valued at approximately $94,368,662.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. 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 quarter. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 2.3 %

PNC stock opened at $176.70 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $185.84. The business’s 50 day simple moving average is $173.04 and its 200 day simple moving average is $160.53. 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 firm has a market capitalization of $70.24 billion, a PE ratio of 14.84, a PEG ratio of 2.05 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate 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 net margin of 15.53% and a return on equity of 11.33%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.36 earnings per share. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a dividend of $1.60 per share. The ex-dividend date was Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PNC. Citigroup lifted their price objective 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. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $177.02.

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.