Ascent Wealth Partners LLC Buys 2,000 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Ascent Wealth Partners LLC boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 100.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,000 shares of the financial services provider’s stock after buying an additional 2,000 shares during the quarter. Ascent Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $703,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the period. Parallel Advisors LLC boosted its position in The PNC Financial Services Group by 5.9% during the fourth quarter. Parallel Advisors LLC now owns 3,732 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 209 shares during the period. Axxcess Wealth Management LLC boosted its position in The PNC Financial Services Group by 6.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 20,502 shares of the financial services provider’s stock worth $3,954,000 after purchasing an additional 1,261 shares during the period. Horizon Investments LLC boosted its position in The PNC Financial Services Group by 1.5% during the fourth quarter. Horizon Investments LLC now owns 12,366 shares of the financial services provider’s stock worth $2,365,000 after purchasing an additional 177 shares during the period. Finally, Generali Asset Management SPA SGR bought a new position in The PNC Financial Services Group during the fourth quarter worth about $6,077,000. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PNC shares. Royal Bank Of Canada cut their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. Barclays reduced their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Morgan Stanley reduced their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.11.

The PNC Financial Services Group Trading Up 0.9%

Shares of The PNC Financial Services Group stock opened at $193.93 on Thursday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a market cap of $76.71 billion, a PE ratio of 13.70, a PEG ratio of 1.52 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day simple moving average of $181.20 and a two-hundred day simple moving average of $180.24.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same period in the previous year, the business posted $3.39 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. The PNC Financial Services Group’s payout ratio is presently 48.02%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,545 shares of company stock worth $1,590,080. 0.41% of the stock is currently owned by 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.