GTS Securities LLC Has $215,000 Stock Position in The PNC Financial Services Group, Inc $PNC

GTS Securities LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 71.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 872 shares of the financial services provider’s stock after selling 2,184 shares during the quarter. GTS Securities LLC’s holdings in The PNC Financial Services Group were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $25,000. Quarry LP acquired a new position in shares of The PNC Financial Services Group in the third quarter valued at $25,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at $28,000. Modus Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $29,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group in the first quarter valued at about $31,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.0%

NYSE PNC opened at $239.70 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The company has a market cap of $95.63 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.96 and a beta of 0.91. The company has a 50 day moving average of $249.51 and a 200-day moving average of $229.53. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.85 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a $2.00 dividend. The ex-dividend date was Monday, July 20th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

Analyst Ratings Changes

Several brokerages recently commented on PNC. Barclays lifted their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective for the company. in a research report on Thursday, July 23rd. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Robert W. Baird lifted their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.73.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stacy M. Juchno sold 3,354 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,654 shares of company stock valued at $1,627,011 over the last quarter. 0.38% of the stock is owned by corporate insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.