Larson Financial Group LLC Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Larson Financial Group LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,999 shares of the financial services provider’s stock after buying an additional 1,345 shares during the quarter. Larson Financial Group LLC’s holdings in The PNC Financial Services Group were worth $1,866,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Founders Financial Securities LLC grew its stake in The PNC Financial Services Group by 2.7% in the 2nd quarter. Founders Financial Securities LLC now owns 12,626 shares of the financial services provider’s stock valued at $1,963,000 after buying an additional 327 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of The PNC Financial Services Group by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 34,155 shares of the financial services provider’s stock valued at $5,310,000 after purchasing an additional 101 shares during the period. Allegheny Financial Group LTD lifted its holdings in The PNC Financial Services Group by 7.9% during the 2nd quarter. Allegheny Financial Group LTD now owns 11,016 shares of the financial services provider’s stock worth $1,713,000 after purchasing an additional 808 shares in the last quarter. Rockline Wealth Management LLC boosted its stake in The PNC Financial Services Group by 4.8% in the 2nd quarter. Rockline Wealth Management LLC now owns 12,965 shares of the financial services provider’s stock worth $2,016,000 after purchasing an additional 595 shares during the period. Finally, PrairieView Partners LLC grew its holdings in The PNC Financial Services Group by 476.0% during the 2nd quarter. PrairieView Partners LLC now owns 2,091 shares of the financial services provider’s stock valued at $325,000 after buying an additional 1,728 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 2,404 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at $90,341,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction 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 completion of the sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. Insiders sold a total of 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 Stock Performance

PNC opened at $182.36 on Thursday. 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 market cap of $72.49 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.05 and a beta of 1.14. 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 company’s 50 day moving average is $172.03 and its 200 day moving average is $160.19.

The PNC Financial Services Group (NYSE:PNC) last posted 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 return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the company earned $3.36 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.51%. This is an increase 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 payout ratio is presently 53.74%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays boosted their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $177.02.

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.