ProShare Advisors LLC Grows Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

ProShare Advisors LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,785 shares of the financial services provider’s stock after purchasing an additional 3,682 shares during the quarter. ProShare Advisors LLC’s holdings in The PNC Financial Services Group were worth $12,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Brook Capital Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.6% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 62 shares during the last quarter. Kowal Investment Group LLC raised its holdings in The PNC Financial Services Group by 2.6% during the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after buying an additional 68 shares during the period. Ranch Capital Advisors Inc. lifted its position in The PNC Financial Services Group by 1.0% in the second quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock worth $1,110,000 after buying an additional 69 shares during the last quarter. Triangle Securities Wealth Management boosted its stake in The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after buying an additional 70 shares during the period. Finally, Cooper Financial Group increased its position in The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 70 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.7 %

NYSE PNC opened at $185.09 on Tuesday. The company’s 50-day simple moving average is $177.43 and its two-hundred day simple moving average is $163.29. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78. The company has a market capitalization of $73.65 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 2.00 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.36 earnings per share. Equities analysts forecast 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 announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.46%. 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 53.74%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PNC shares. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Citigroup upped their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Evercore ISI upped their price objective 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. Finally, Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $176.90.

Insiders Place Their Bets

In other 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 value of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William S. Demchak sold 641 shares of the 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 of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,864 shares of company stock worth $4,551,485. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group 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.