Raymond James Financial Services Advisors Inc. Has $31.92 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Raymond James Financial Services Advisors Inc. increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 205,279 shares of the financial services provider’s stock after purchasing an additional 8,202 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in The PNC Financial Services Group were worth $31,917,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $1,039,481,000. Franklin Resources Inc. grew its position in The PNC Financial Services Group by 165.4% in 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 acquiring an additional 3,046,226 shares during the last quarter. Capital International Investors raised its stake in 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 worth $2,437,361,000 after acquiring an additional 1,978,854 shares in the last quarter. Capital Research Global Investors lifted its holdings 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 worth $738,039,000 after acquiring an additional 778,264 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of The PNC Financial Services Group by 4,040.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock valued at $62,878,000 after purchasing an additional 396,252 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $174.58 on Tuesday. The company has a market capitalization of $69.40 billion, a PE ratio of 14.66, a P/E/G ratio of 2.14 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, Inc. has a twelve month low of $109.40 and a twelve month high of $182.84. The firm has a fifty day simple moving average of $165.50 and a 200 day simple moving average of $157.58.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company posted $3.36 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.13 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a dividend of $1.60 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.67%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insider Activity

In related news, President Michael P. Lyons sold 11,000 shares of the 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 of the company’s stock, valued at $36,151,670.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $36,151,670.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the 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 completion of the transaction, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock worth $3,758,458 in the last quarter. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PNC shares. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Royal Bank of Canada boosted their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley increased their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $177.02.

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.