S&CO Inc. Purchases New Position in The PNC Financial Services Group, Inc $PNC

S&CO Inc. acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,800 shares of the financial services provider’s stock, valued at approximately $689,000.

Several other institutional investors also recently bought and sold shares of PNC. Monetary Solutions Ltd bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth $25,000. Quarry LP bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $25,000. Modus Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $29,000. Financial Life Planners purchased a new stake in The PNC Financial Services Group in the first quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC lifted its stake in The PNC Financial Services Group by 93.4% in the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 71 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Royal Bank Of Canada upped their price target on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Citigroup increased their price objective on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Finally, Argus boosted their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $265.73.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president owned 5,059 shares in the company, valued at $1,204,750.26. The trade was a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 51,654 shares of company stock valued at $11,552,661. 0.38% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $256.91 on Monday. The company has a market cap of $102.49 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $258.13. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. The company has a 50 day moving average of $246.72 and a two-hundred day moving average of $228.51.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.85 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc will post 19.25 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 Wednesday, August 5th. Shareholders of record on Monday, July 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.1%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.