Gilbert & Cook Inc. Sells 242 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Gilbert & Cook Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,731 shares of the financial services provider’s stock after selling 242 shares during the period. Gilbert & Cook Inc.’s holdings in The PNC Financial Services Group were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC lifted its stake in shares of The PNC Financial Services Group by 23.3% during the 1st quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock worth $1,371,000 after acquiring an additional 1,604 shares during the last quarter. Grayhawk Investment Strategies Inc. purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $1,200,000. Envestnet Asset Management Inc. grew its holdings in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock worth $239,792,000 after purchasing an additional 6,657 shares during the last quarter. Groupama Asset Managment purchased a new position in The PNC Financial Services Group in the 4th quarter worth about $23,578,000. Finally, Integrated Advisors Network LLC lifted its holdings in The PNC Financial Services Group by 7.3% during the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after buying an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $185.09 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $185.57. The stock has a fifty day moving average price of $170.77 and a 200-day moving average price of $159.78. 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 cap of $73.57 billion, a PE ratio of 15.54, a P/E/G ratio of 2.05 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the business posted $3.36 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a dividend of $1.60 per share. 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. This represents a $6.40 dividend on an annualized basis and a yield of 3.46%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. Barclays raised their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report 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. UBS Group increased 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. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada increased their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” 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 nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $177.02.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at $97,929,359.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,021 shares of company stock valued at $4,190,611. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company 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.