Yukon Wealth Management Inc. Purchases Shares of 2,803 The PNC Financial Services Group, Inc $PNC

Yukon Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, Holdings Channel reports. The fund purchased 2,803 shares of the financial services provider’s stock, valued at approximately $690,000.

A number of other large investors also recently modified their holdings of the business. Cvfg LLC boosted its position in The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 43 shares during the last quarter. Trust Asset Management LLC raised its position in The PNC Financial Services Group by 1.0% during the second quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock worth $1,097,000 after acquiring an additional 43 shares in the last quarter. Baron Wealth Management LLC grew its position in shares of The PNC Financial Services Group by 3.0% in the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 46 shares during the period. Atom Investors LP grew its position in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 46 shares during the period. Finally, Flavin Financial Services Inc. increased its stake in shares of The PNC Financial Services Group by 0.4% during the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after purchasing an additional 48 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PNC shares. Stephens upped their target price on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research 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. Deutsche Bank Aktiengesellschaft cut 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 note on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

Insider Activity at The PNC Financial Services Group

In related news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,654 shares of company stock valued at $1,627,011 over the last ninety days. 0.38% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Down 0.5%

Shares of The PNC Financial Services Group stock opened at $243.33 on Friday. The firm’s 50-day moving average price is $249.21 and its two-hundred day moving average price is $229.52. The company has a market capitalization of $97.08 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.97 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc has a 12-month low of $176.88 and a 12-month high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the business posted $3.85 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. On average, analysts forecast 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a dividend of $2.00 per share. The ex-dividend date was Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.3%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is currently 44.03%.

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.