United Services Automobile Association Cuts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

United Services Automobile Association lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,693 shares of the financial services provider’s stock after selling 544 shares during the period. United Services Automobile Association’s holdings in The PNC Financial Services Group were worth $1,663,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. ORG Partners LLC increased its holdings in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth approximately $26,000. LRI Investments LLC acquired a new stake in The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Fortis Group Advisors LLC increased its position in shares of 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 last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of 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 filing with the SEC, which is available at the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at $101,604,582.17. The disclosure for this sale can be found here. In the last three months, insiders sold 25,263 shares of company stock worth $4,418,109. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective 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. Evercore ISI increased their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Barclays raised their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $177.02.

The PNC Financial Services Group Trading Up 3.4 %

Shares of The PNC Financial Services Group stock opened at $182.68 on Tuesday. The company has a 50-day moving average of $173.57 and a two-hundred day moving average of $160.99. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.84. 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 stock has a market cap of $72.62 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate 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 PNC Financial Services Group’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $3.36 EPS. On average, research analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.50%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

About The PNC Financial Services Group

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.