The PNC Financial Services Group, Inc (NYSE:PNC) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,264 shares of the financial services provider’s stock after selling 371 shares during the period. Frank Rimerman Advisors LLC’s holdings in The PNC Financial Services Group were worth $574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC increased its position in The PNC Financial Services Group by 41.5% during the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 59 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 65 shares during the last quarter. WealthPLAN Partners LLC increased its position in shares of The PNC Financial Services Group by 0.5% during the first quarter. WealthPLAN Partners LLC now owns 12,629 shares of the financial services provider’s stock valued at $2,220,000 after acquiring an additional 66 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of The PNC Financial Services Group by 13.8% during the first quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 68 shares during the last quarter. Finally, Spire Wealth Management increased its position in shares of The PNC Financial Services Group by 2.2% during the first quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 69 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. TD Cowen initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a “buy” rating and a $233.00 price target for the company. Finally, The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.17.

The PNC Financial Services Group Stock Up 1.3%

Shares of The PNC Financial Services Group stock opened at $189.58 on Monday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a 50 day moving average of $187.37 and a 200 day moving average of $179.74. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $74.66 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.41 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the previous year, the firm earned $3.39 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s payout ratio is presently 46.51%.

Insider Buying and Selling 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 transaction of $210,829.50. Following the completion of the sale, the chief executive officer 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

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.