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

D.B. Root & Company LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 33.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,827 shares of the financial services provider’s stock after selling 2,967 shares during the period. D.B. Root & Company LLC’s holdings in The PNC Financial Services Group were worth $906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PNC. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $1,039,481,000. Franklin Resources Inc. raised its position in shares of The PNC Financial Services Group by 165.4% during the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after acquiring an additional 3,046,226 shares in the last quarter. Capital International Investors increased its position in The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after buying an additional 1,978,854 shares during the period. Capital Research Global Investors increased its position in The PNC Financial Services Group by 19.5% during the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after buying an additional 778,264 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its position in The PNC Financial Services Group by 4,040.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock worth $62,878,000 after buying an additional 396,252 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold 20,295 shares of company stock valued at $3,547,181 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PNC shares. UBS Group lifted their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. 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 report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $176.09.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $2.90 on Monday, reaching $167.02. The stock had a trading volume of 1,767,668 shares, compared to its average volume of 1,930,671. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $182.84. The firm has a market capitalization of $66.46 billion, a PE ratio of 14.02, a PEG ratio of 2.17 and a beta of 1.15. The firm has a 50-day moving average of $163.82 and a 200 day moving average of $156.87. 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 PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates 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 PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.36 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.04 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced 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 represents a $6.40 dividend on an annualized basis and a yield of 3.83%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is presently 53.74%.

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.