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

LGT Financial Advisors LLC lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 54.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 471 shares of the financial services provider’s stock after selling 572 shares during the quarter. LGT Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $73,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PNC. Bank & Trust Co purchased a new position in The PNC Financial Services Group during the second quarter worth approximately $26,000. ORG Partners LLC increased its stake in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the period. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the first quarter valued at $29,000. Finally, Core Wealth Advisors Inc. acquired a new position in 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.

Insiders Place Their Bets

In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, President Michael P. Lyons sold 11,000 shares of the 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 owns 199,095 shares in the company, valued at $36,151,670.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the completion of the sale, the chief executive officer now owns 554,701 shares of the company’s stock, valued at $101,604,582.17. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock valued at $4,418,109 over the last ninety days. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $180.95 on Friday. 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 company’s fifty day simple moving average is $172.61 and its 200 day simple moving average is $160.33. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $185.84. The company has a market cap of $71.93 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 2.05 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued 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 PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the firm earned $3.36 EPS. The PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PNC shares. Royal Bank of Canada raised their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $177.02.

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.