The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 33.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,591 shares of the financial services provider’s stock after selling 799 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNC. Tennessee Valley Asset Management Partners acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Strs Ohio lifted its position in shares of The PNC Financial Services Group by 15.8% during the 4th quarter. Strs Ohio now owns 128,776 shares of the financial services provider’s stock valued at $19,940,000 after buying an additional 17,579 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of The PNC Financial Services Group by 46.4% during the 4th quarter. Mackenzie Financial Corp now owns 246,618 shares of the financial services provider’s stock valued at $38,189,000 after buying an additional 78,122 shares in the last quarter. Everence Capital Management Inc. lifted its position in shares of The PNC Financial Services Group by 21.8% during the 4th quarter. Everence Capital Management Inc. now owns 13,561 shares of the financial services provider’s stock valued at $2,100,000 after buying an additional 2,430 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of The PNC Financial Services Group by 39.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 166,262 shares of the financial services provider’s stock valued at $25,746,000 after buying an additional 47,381 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the completion of the transaction, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was 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 of the company’s stock, valued at $86,900,760.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,537 shares of company stock valued at $3,758,458. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price objective on 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. Finally, Morgan Stanley raised their price objective on 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $177.02.

The PNC Financial Services Group Trading Up 0.7 %

Shares of NYSE PNC traded up $1.18 during trading on Friday, hitting $173.00. 1,365,469 shares of the company were exchanged, compared to its average volume of 1,923,151. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $182.84. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The company has a fifty day moving average price of $165.06 and a 200-day moving average price of $157.31. The firm has a market capitalization of $68.84 billion, a PE ratio of 14.53, a P/E/G ratio of 2.16 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $3.36 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.13 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. Investors of record on Monday, July 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. 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 dividend payout ratio (DPR) is presently 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.