D Orazio & Associates Inc. Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

D Orazio & Associates Inc. bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,399 shares of the financial services provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth about $26,000. ORG Partners LLC lifted its holdings in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter worth $29,000. Finally, Core Wealth Advisors Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup upped their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada boosted their price target 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. Jefferies Financial Group raised their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday. 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 company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $176.90.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $177.60 on Friday. The company’s 50 day simple moving average is $174.75 and its 200-day simple moving average is $161.44. The firm has a market cap of $70.60 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.84. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm posted $3.36 EPS. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts predict 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. This represents a $6.40 dividend on an annualized basis and a yield of 3.60%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the company’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 completion of the sale, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 business’s stock in a transaction that occurred on Friday, July 12th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,263 shares of company stock worth $4,418,109. 0.42% of the stock is currently owned by insiders.

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.