Prime Capital Investment Advisors LLC Sells 6,100 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Prime Capital Investment Advisors LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,063 shares of the financial services provider’s stock after selling 6,100 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $5,452,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC increased its holdings in shares of The PNC Financial Services Group by 23.3% in the first quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock worth $1,371,000 after purchasing an additional 1,604 shares during the last quarter. Grayhawk Investment Strategies Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $1,200,000. Envestnet Asset Management Inc. grew its position in The PNC Financial Services Group by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock worth $239,792,000 after acquiring an additional 6,657 shares in the last quarter. Groupama Asset Managment purchased a new position in The PNC Financial Services Group in the fourth quarter worth about $23,578,000. Finally, Integrated Advisors Network LLC grew its position in The PNC Financial Services Group by 7.3% in the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 148 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $177.24 on Monday. The firm’s fifty day simple moving average is $175.16 and its two-hundred day simple moving average is $161.89. The firm has a market capitalization of $70.45 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.96 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 PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.84.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate 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 previous year, the business earned $3.36 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.61%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s 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 sale, 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction 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 sale, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The disclosure for this sale can be found here. Insiders sold 25,263 shares of company stock valued at $4,418,109 in the last three months. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Jefferies Financial Group lifted their price target 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. UBS Group boosted their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Evercore ISI boosted their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Barclays raised their price objective on 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus 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.