Wetzel Investment Advisors Inc. Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wetzel Investment Advisors Inc. lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 40.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 255 shares of the financial services provider’s stock after selling 175 shares during the quarter. Wetzel Investment Advisors Inc.’s holdings in The PNC Financial Services Group were worth $41,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Gilbert & Cook Inc. increased its position in shares of The PNC Financial Services Group by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after buying an additional 107 shares during the period. Gryphon Financial Partners LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $228,000. Principal Securities Inc. bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $518,000. Quotient Wealth Partners LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $206,000. Finally, Westpac Banking Corp boosted its position in shares of The PNC Financial Services Group by 11.8% during the fourth quarter. Westpac Banking Corp now owns 2,857 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 301 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the sale, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The sale 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 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 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. Insiders sold 25,263 shares of company stock valued at $4,418,109 over the last 90 days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 2.1 %

The PNC Financial Services Group stock opened at $178.78 on Wednesday. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $185.84. The business’s fifty day moving average is $173.97 and its 200 day moving average is $161.22. 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 stock has a market capitalization of $71.07 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping 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 analyst estimates of $5.40 billion. During the same period in the previous year, the business posted $3.36 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side 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 company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. This is an increase 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 dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PNC shares. UBS Group increased their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada increased 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 research note on Wednesday, July 17th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. 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 company a “neutral” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $177.02.

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.