Wrapmanager Inc. Has $841,000 Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wrapmanager Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,408 shares of the financial services provider’s stock after selling 720 shares during the period. Wrapmanager Inc.’s holdings in The PNC Financial Services Group were worth $841,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $26,000. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group in the 1st quarter worth about $29,000. Finally, Fortis Group Advisors LLC grew its stake in The PNC Financial Services Group by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $177.24 on Friday. The company has a market capitalization of $70.45 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $185.84. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm has a 50 day moving average of $175.16 and a 200 day moving average of $161.66.

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

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a yield of 3.61%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now owns 554,701 shares of the company’s stock, valued at $101,604,582.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now directly owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,263 shares of company stock valued at $4,418,109. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PNC. Barclays increased their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. UBS Group boosted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley raised their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $176.90.

The PNC Financial Services Group Company 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.