Cetera Advisors LLC Has $7.49 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cetera Advisors LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 127.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,325 shares of the financial services provider’s stock after purchasing an additional 25,954 shares during the quarter. Cetera Advisors LLC’s holdings in The PNC Financial Services Group were worth $7,486,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in The PNC Financial Services Group by 116.1% during the 1st quarter. Cetera Investment Advisers now owns 112,583 shares of the financial services provider’s stock worth $18,193,000 after acquiring an additional 60,492 shares during the last quarter. PGGM Investments bought a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $510,000. Atria Investments Inc grew its holdings in The PNC Financial Services Group by 6.8% during the 1st quarter. Atria Investments Inc now owns 73,379 shares of the financial services provider’s stock worth $11,858,000 after acquiring an additional 4,684 shares during the last quarter. Swedbank AB bought a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at $34,724,000. Finally, Sanibel Captiva Trust Company Inc. boosted its stake in shares of The PNC Financial Services Group by 15.2% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 19,190 shares of the financial services provider’s stock valued at $3,101,000 after purchasing an additional 2,532 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 3.4 %

PNC traded down $5.99 during trading on Friday, hitting $170.00. 2,917,005 shares of the company’s stock were exchanged, compared to its average volume of 2,192,342. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average is $162.13 and its two-hundred day moving average is $156.04. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $182.84. The stock has a market cap of $67.64 billion, a P/E ratio of 14.27, a PEG ratio of 2.26 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results 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 company had revenue of $5.41 billion during 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 firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.36 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.02 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.76%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PNC shares. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Bank of America upped their price objective on shares of The PNC Financial Services Group from $169.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. 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. Finally, Jefferies Financial Group boosted their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $176.09.

Insider Activity

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were 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 in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following 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. Insiders sold a total of 19,903 shares of company stock worth $3,463,786 over the last quarter. Insiders own 0.42% of the company’s stock.

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.