The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Diversify Advisory Services LLC

Diversify Advisory Services LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,951 shares of the financial services provider’s stock after buying an additional 189 shares during the quarter. Diversify Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $315,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Capital International Investors grew its position in The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after purchasing an additional 78,407 shares during the last quarter. Norges Bank acquired a new stake in The PNC Financial Services Group during the fourth 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 fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after purchasing an additional 3,046,226 shares during the last quarter. Capital Research Global Investors lifted 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 purchasing an additional 778,264 shares during the last quarter. Finally, Putnam Investments LLC raised its holdings in shares of The PNC Financial Services Group by 3.2% during the fourth 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. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. UBS Group upped their price objective 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 upped 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. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $176.09.

Insider Activity

In related news, President Michael P. Lyons sold 11,000 shares of the business’s 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 transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the company’s 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 transaction, 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 have sold 20,295 shares of company stock worth $3,547,181 over the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.2 %

Shares of NYSE PNC traded down $0.36 during mid-day trading on Friday, hitting $169.92. The company’s stock had a trading volume of 710,475 shares, compared to its average volume of 2,404,046. The stock has a market cap of $67.54 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15. 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 one year low of $109.40 and a one year high of $182.84. The company’s fifty day simple moving average is $163.58 and its 200-day simple moving average is $156.72.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the firm posted $3.36 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.04 earnings per share for the current fiscal 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 issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. 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 3.77%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

About The PNC Financial Services Group

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.