The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,867 shares of the financial services provider’s stock after selling 2,550 shares during the quarter. Connors Investor Services Inc.’s holdings in The PNC Financial Services Group were worth $1,110,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB boosted its position in The PNC Financial Services Group by 2.6% during the fourth quarter. Nordea Investment Management AB now owns 28,055 shares of the financial services provider’s stock worth $4,360,000 after acquiring an additional 719 shares during the last quarter. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $26,000. Dynamic Advisor Solutions LLC boosted its position in The PNC Financial Services Group by 144.1% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 5,007 shares of the financial services provider’s stock worth $782,000 after acquiring an additional 2,956 shares during the last quarter. Vest Financial LLC boosted its position in The PNC Financial Services Group by 15.4% during the fourth quarter. Vest Financial LLC now owns 83,968 shares of the financial services provider’s stock worth $13,002,000 after acquiring an additional 11,185 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its position in The PNC Financial Services Group by 8.6% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 11,684 shares of the financial services provider’s stock worth $1,809,000 after acquiring an additional 930 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

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 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 563,395 shares of the company’s stock, valued at approximately $94,368,662.50. The disclosure for this sale can be found here. Insiders sold 6,419 shares of company stock worth $1,022,826 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.3 %

Shares of The PNC Financial Services Group stock traded down $0.56 on Friday, reaching $175.51. The company had a trading volume of 1,601,122 shares, compared to its average volume of 1,989,651. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.85 and a current ratio of 0.83. The firm has a market cap of $69.84 billion, a PE ratio of 14.74, a PEG ratio of 2.27 and a beta of 1.15. The firm’s 50 day moving average price is $158.03 and its two-hundred day moving average price is $154.26. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $180.97.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business posted $3.36 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.95 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.65%. The ex-dividend date is Monday, July 15th. 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 53.74%.

Analyst Ratings Changes

A number of research firms recently weighed in on PNC. Jefferies Financial Group boosted their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada lifted 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 research note on Wednesday. Citigroup lifted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $167.00 to $165.00 and set an “underweight” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $175.34.

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.