Strategic Blueprint LLC Purchases 98 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Strategic Blueprint LLC grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,831 shares of the financial services provider’s stock after buying an additional 98 shares during the quarter. Strategic Blueprint LLC’s holdings in The PNC Financial Services Group were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PNC. Gilbert & Cook Inc. lifted its stake in The PNC Financial Services Group by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 107 shares during the last quarter. Mather Group LLC. increased its holdings in The PNC Financial Services Group by 27.4% in the 4th quarter. Mather Group LLC. now owns 5,925 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 1,273 shares during the last quarter. Choreo LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $1,341,000. Kestra Private Wealth Services LLC boosted its holdings in The PNC Financial Services Group by 18.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 20,640 shares of the financial services provider’s stock worth $3,196,000 after buying an additional 3,160 shares during the period. Finally, Penobscot Investment Management Company Inc. grew its stake in The PNC Financial Services Group by 9.5% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 8,203 shares of the financial services provider’s stock valued at $1,270,000 after buying an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. 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 research note on Wednesday, July 17th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Morgan Stanley boosted their target price 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. Finally, Jefferies Financial Group raised their price target on 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $177.02.

The PNC Financial Services Group Trading Down 0.6 %

The PNC Financial Services Group stock traded down $1.06 during mid-day trading on Thursday, reaching $180.72. 66,544 shares of the company traded hands, compared to its average volume of 1,883,294. The firm’s 50 day moving average price is $168.38 and its 200 day moving average price is $158.77. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $183.26. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $71.91 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.92 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 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 business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business posted $3.36 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts anticipate 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 firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a dividend of $1.60 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred 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 directly 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 related news, CEO William S. Demchak sold 641 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,021 shares of company stock worth $4,190,611. 0.42% of the stock is currently owned by company insiders.

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.