Blair William & Co. IL Grows Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Blair William & Co. IL increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 216.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,739 shares of the financial services provider’s stock after purchasing an additional 31,289 shares during the period. Blair William & Co. IL’s holdings in The PNC Financial Services Group were worth $7,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its stake in shares of The PNC Financial Services Group by 13.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,902 shares of the financial services provider’s stock valued at $5,092,000 after buying an additional 3,815 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in The PNC Financial Services Group by 7.3% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,387 shares of the financial services provider’s stock valued at $2,081,000 after acquiring an additional 908 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in The PNC Financial Services Group by 9.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock worth $4,588,000 after purchasing an additional 2,670 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in The PNC Financial Services Group by 4.6% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 8,839 shares of the financial services provider’s stock worth $1,374,000 after purchasing an additional 388 shares in the last quarter. Finally, Denali Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $715,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PNC shares. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Evercore ISI raised their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Citigroup raised their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, UBS Group upped their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note 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 issued a buy rating to the stock. According to MarketBeat, 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 Stock Down 0.4 %

Shares of NYSE PNC opened at $186.36 on Friday. The stock has a market cap of $74.08 billion, a PE ratio of 15.65, a P/E/G ratio of 2.00 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78. The company has a 50-day moving average of $177.11 and a 200 day moving average of $162.90.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion during 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 business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.36 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were 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 in the company, valued at $86,900,760.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were 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 owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the sale, the chief executive officer now directly owns 563,395 shares in the company, valued at approximately $94,368,662.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,622 shares of company stock valued at $4,319,914. 0.42% of the stock is currently owned by insiders.

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.