Certuity LLC Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Certuity LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% during the second quarter, HoldingsChannel.com reports. The firm owned 104,681 shares of the financial services provider’s stock after purchasing an additional 530 shares during the period. The PNC Financial Services Group makes up 1.3% of Certuity LLC’s portfolio, making the stock its 21st biggest position. Certuity LLC’s holdings in The PNC Financial Services Group were worth $16,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley Brook Capital Group Inc. raised its position in The PNC Financial Services Group by 0.6% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 62 shares during the period. Triangle Securities Wealth Management increased its position in shares of The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 70 shares during the period. Cooper Financial Group increased its position in shares of The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 70 shares during the period. Berkshire Bank increased its position in shares of The PNC Financial Services Group by 2.0% during the first quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 71 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of The PNC Financial Services Group by 22.3% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 390 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 71 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of 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. Citigroup raised their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $177.02.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the transaction, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at approximately $94,368,662.50. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock valued at $4,418,109 in the last 90 days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 2.3 %

Shares of NYSE PNC opened at $176.70 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.84. The stock has a market cap of $70.24 billion, a PE ratio of 14.84, a P/E/G ratio of 2.05 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average of $173.04 and a 200 day moving average of $160.62.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the company posted $3.36 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

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.