The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Gilbert & Cook Inc.

Gilbert & Cook Inc. lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,731 shares of the financial services provider’s stock after selling 242 shares during the period. Gilbert & Cook Inc.’s holdings in The PNC Financial Services Group were worth $425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $1,039,481,000. Franklin Resources Inc. boosted its position 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 worth $756,957,000 after purchasing an additional 3,046,226 shares in the last quarter. Capital International Investors grew its holdings in The PNC Financial Services Group by 14.4% in 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 last quarter. Capital Research Global Investors increased its position in shares of The PNC Financial Services Group by 19.5% in 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, Public Employees Retirement Association of Colorado raised its stake in shares of The PNC Financial Services Group by 4,040.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock worth $62,878,000 after buying an additional 396,252 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. Royal Bank of Canada raised their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Citigroup raised their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, UBS Group upped their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two equities research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $177.02.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at $97,929,359.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares of the company’s stock, valued at $97,929,359.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $86,900,760.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,021 shares of company stock worth $4,190,611. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 1.1 %

Shares of PNC opened at $185.09 on Tuesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $185.57. The company’s fifty day moving average is $170.77 and its two-hundred day moving average is $159.78. The firm has a market cap of $73.57 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last issued its 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 firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.36 earnings per share. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced 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 yield of 3.46%. 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. The PNC Financial Services Group’s dividend payout ratio is 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.