The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by WBI Investments LLC

WBI Investments LLC cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,082 shares of the financial services provider’s stock after selling 157 shares during the period. WBI Investments LLC’s holdings in The PNC Financial Services Group were worth $498,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after purchasing an additional 1,978,854 shares during the period. Norges Bank bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $1,039,481,000. Franklin Resources Inc. boosted its stake in The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after buying an additional 3,046,226 shares in the last quarter. Capital Research Global Investors boosted its stake in The PNC Financial Services Group by 19.5% during the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after buying an additional 778,264 shares in the last quarter. Finally, Morgan Stanley boosted its stake in The PNC Financial Services Group by 1.0% during the third quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock valued at $473,767,000 after buying an additional 36,362 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the transaction, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the transaction, the chief executive officer now owns 567,041 shares in the company, valued at approximately $89,649,182.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,773 shares of company stock valued at $430,151. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 2.7 %

PNC traded up $4.47 during midday trading on Thursday, hitting $168.77. 1,622,071 shares of the company were exchanged, compared to its average volume of 1,874,045. The firm has a market capitalization of $67.16 billion, a P/E ratio of 13.79, a P/E/G ratio of 2.26 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $169.11. The firm’s 50 day moving average price is $155.67 and its 200-day moving average price is $153.32. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.98 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be paid a dividend of $1.60 per share. 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 yield of 3.79%. The ex-dividend date of this dividend is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PNC shares. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Jefferies Financial Group increased their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $159.63.

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.