Clarius Group LLC Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Clarius Group LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,339 shares of the financial services provider’s stock after selling 193 shares during the quarter. Clarius Group LLC’s holdings in The PNC Financial Services Group were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $26,000. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the second quarter worth about $26,000. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at about $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $29,000. Finally, Core Wealth Advisors Inc. acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $31,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.1 %

PNC traded down $0.24 during midday trading on Friday, hitting $170.04. The company’s stock had a trading volume of 66,959 shares, compared to its average volume of 1,927,501. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $182.84. The firm has a 50-day moving average price of $163.33 and a two-hundred day moving average price of $156.53. 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 firm has a market cap of $67.66 billion, a P/E ratio of 14.29, a PEG ratio of 2.26 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The firm 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 was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.36 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.02 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a $1.60 dividend. This is a positive change 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 3.76%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PNC. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. UBS Group lifted their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays upped their price target 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. Finally, Royal Bank of Canada lifted 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $176.09.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, 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 SEC, which is accessible through the SEC website. In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the business’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 value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,295 shares of company stock worth $3,547,181. 0.42% of the stock is owned by insiders.

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.