Frank Rimerman Advisors LLC Has $448,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Frank Rimerman Advisors LLC grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7,689.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,882 shares of the financial services provider’s stock after purchasing an additional 2,845 shares during the period. Frank Rimerman Advisors LLC’s holdings in The PNC Financial Services Group were worth $448,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Gilbert & Cook Inc. increased its holdings in shares of The PNC Financial Services Group by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock worth $462,000 after buying an additional 107 shares in the last quarter. Gryphon Financial Partners LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $228,000. Commerce Bank increased its stake in shares of The PNC Financial Services Group by 1.2% in the fourth quarter. Commerce Bank now owns 20,106 shares of the financial services provider’s stock valued at $3,113,000 after buying an additional 241 shares in the last quarter. Congress Wealth Management LLC DE raised its holdings in shares of The PNC Financial Services Group by 142.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 6,768 shares of the financial services provider’s stock valued at $1,048,000 after buying an additional 3,973 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in The PNC Financial Services Group by 2.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 764,741 shares of the financial services provider’s stock worth $118,420,000 after buying an additional 18,316 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm’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 transaction of $101,342.10. Following the sale, the chief executive officer now directly owns 567,041 shares in the company, valued at approximately $89,649,182.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the sale, the chief executive officer now owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the sale, the chief executive officer now directly owns 567,041 shares in the company, valued at $89,649,182.10. The disclosure for this sale can be found here. Insiders have sold a total of 25,864 shares of company stock valued at $4,551,485 over the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Down 0.3 %

The PNC Financial Services Group stock opened at $184.62 on Wednesday. The firm has a market capitalization of $73.46 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 2.00 and a beta of 1.14. The company’s 50 day simple moving average is $177.58 and its 200 day simple moving average is $163.53. 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 $187.78.

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, topping 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 company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the firm posted $3.36 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays boosted their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group decreased their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Jefferies Financial Group boosted their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods raised their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $176.90.

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.