The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,510 shares of the financial services provider’s stock after acquiring an additional 2,670 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in The PNC Financial Services Group were worth $4,588,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Gilbert & Cook Inc. boosted its stake 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 during the period. Gryphon Financial Partners LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $228,000. CreativeOne Wealth LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $235,000. Commerce Bank increased its holdings 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 purchasing an additional 241 shares during the period. Finally, SageView Advisory Group LLC increased its holdings in shares of The PNC Financial Services Group by 125.4% in the fourth quarter. SageView Advisory Group LLC now owns 9,030 shares of the financial services provider’s stock valued at $1,393,000 after purchasing an additional 5,023 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Barclays lifted their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. 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. The Goldman Sachs Group lowered 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 report on Wednesday, September 11th. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two 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’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $176.90.

The PNC Financial Services Group Trading Down 0.4 %

Shares of The PNC Financial Services Group stock opened at $186.36 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $187.78. 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 business has a 50 day moving average price of $177.11 and a 200 day moving average price of $162.96. The company has a market capitalization of $74.08 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.00 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the company earned $3.36 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis 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 at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now directly owns 567,041 shares in the company, valued at approximately $89,649,182.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,622 shares of company stock valued at $4,319,914. Company insiders own 0.42% of the company’s stock.

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.