The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Evermay Wealth Management LLC

Evermay Wealth Management LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 49.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174 shares of the financial services provider’s stock after selling 168 shares during the period. Evermay Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $28,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. Salem Investment Counselors Inc. grew its holdings in The PNC Financial Services Group by 45.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 796 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 250 shares during the period. CVA Family Office LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $182,000. Raymond James Financial Services Advisors Inc. grew its holdings in The PNC Financial Services Group by 6.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 147,792 shares of the financial services provider’s stock worth $22,886,000 after acquiring an additional 8,642 shares during the period. Assenagon Asset Management S.A. boosted its position in The PNC Financial Services Group by 209.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 221,087 shares of the financial services provider’s stock worth $34,235,000 after purchasing an additional 149,656 shares in the last quarter. Finally, Schechter Investment Advisors LLC boosted its position in The PNC Financial Services Group by 2.6% during the fourth quarter. Schechter Investment Advisors LLC now owns 5,361 shares of the financial services provider’s stock worth $830,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.5 %

The PNC Financial Services Group stock traded up $2.58 during trading on Thursday, hitting $179.98. The company’s stock had a trading volume of 1,843,315 shares, compared to its average volume of 1,928,984. The stock has a market capitalization of $71.62 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 2.30 and a beta of 1.15. The stock’s fifty day moving average is $159.49 and its 200 day moving average is $154.92. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $182.51. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.36 earnings per share. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a yield of 3.56%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders sold 7,661 shares of company stock worth $1,242,250 over the last three months. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PNC. Jefferies Financial Group boosted their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Royal Bank of Canada boosted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $175.34.

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.