The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 28.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,788,780 shares of the financial services provider’s stock after selling 1,118,624 shares during the period. Price T Rowe Associates Inc. MD owned 0.70% of The PNC Financial Services Group worth $450,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PNC. Capital International Investors lifted its stake in The PNC Financial Services Group by 0.5% during the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after acquiring an additional 78,407 shares during the period. Norges Bank acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $1,039,481,000. Franklin Resources Inc. lifted its stake in The PNC Financial Services Group by 165.4% during the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after acquiring an additional 3,046,226 shares during the period. Capital Research Global Investors lifted its stake in The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after acquiring an additional 778,264 shares during the period. Finally, Putnam Investments LLC lifted its stake in The PNC Financial Services Group by 3.2% during the 4th quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock valued at $568,662,000 after acquiring an additional 114,960 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on PNC shares. Jefferies Financial Group lifted their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. UBS Group boosted their price target on shares of 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. The Goldman Sachs Group boosted their price target 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. Finally, Morgan Stanley cut their price target on shares of The PNC Financial Services Group from $167.00 to $165.00 and set an “underweight” rating for the company in a report on Wednesday, July 17th. Two 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $175.34.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $176.67, for a total value of $219,424.14. Following the sale, the chief executive officer now directly owns 562,153 shares in the company, valued at $99,315,570.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total value of $219,424.14. Following the sale, the chief executive officer now owns 562,153 shares of the company’s stock, valued at $99,315,570.51. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Insiders sold a total of 7,661 shares of company stock worth $1,242,250 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.1 %

Shares of PNC stock traded up $0.22 during trading hours on Monday, hitting $181.43. The company had a trading volume of 339,298 shares, compared to its average volume of 1,917,217. The company’s fifty day moving average is $159.91 and its 200 day moving average is $155.09. 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 PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $182.51. The stock has a market capitalization of $72.19 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 2.33 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 firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business posted $3.36 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 53.74%.

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.