PNC Financial Services Group Inc (NYSE:PNC) Shares Sold by Nvwm LLC

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Nvwm LLC lowered its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 50.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 458 shares of the financial services provider’s stock after selling 467 shares during the quarter. Nvwm LLC’s holdings in PNC Financial Services Group were worth $63,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Institute for Wealth Management LLC. increased its stake in shares of PNC Financial Services Group by 3.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 2,902 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 101 shares during the last quarter. GYL Financial Synergies LLC acquired a new stake in PNC Financial Services Group during the 1st quarter worth approximately $940,000. Moors & Cabot Inc. increased its position in PNC Financial Services Group by 2.9% during the 2nd quarter. Moors & Cabot Inc. now owns 11,036 shares of the financial services provider’s stock worth $1,510,000 after purchasing an additional 311 shares in the last quarter. Joel Isaacson & Co. LLC increased its position in PNC Financial Services Group by 31.8% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 4,166 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 1,006 shares in the last quarter. Finally, Park National Corp OH increased its position in PNC Financial Services Group by 9.6% during the 2nd quarter. Park National Corp OH now owns 74,862 shares of the financial services provider’s stock worth $10,277,000 after purchasing an additional 6,529 shares in the last quarter. 81.83% of the stock is owned by institutional investors.

NYSE:PNC traded down $0.09 during trading hours on Tuesday, hitting $124.01. The stock had a trading volume of 63,390 shares, compared to its average volume of 2,150,061. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $147.00. The business has a 50 day simple moving average of $135.15 and a two-hundred day simple moving average of $131.34. The company has a market cap of $54.81 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.60 and a beta of 1.07.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company earned $2.72 earnings per share. PNC Financial Services Group’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that PNC Financial Services Group Inc will post 11.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were given a $1.15 dividend. This is an increase from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, July 18th. This represents a $4.60 annualized dividend and a yield of 3.71%. PNC Financial Services Group’s dividend payout ratio (DPR) is 42.95%.

In other PNC Financial Services Group news, EVP Stacy M. Juchno sold 710 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $141.90, for a total value of $100,749.00. Following the completion of the sale, the executive vice president now owns 4,583 shares of the company’s stock, valued at $650,327.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory H. Kozich sold 10,000 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $139.82, for a total transaction of $1,398,200.00. Following the completion of the sale, the insider now directly owns 20,080 shares of the company’s stock, valued at approximately $2,807,585.60. The disclosure for this sale can be found here. Insiders sold 141,242 shares of company stock valued at $19,853,468 in the last ninety days. 0.37% of the stock is owned by corporate insiders.

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Morgan Stanley set a $141.00 target price on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, ValuEngine downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $143.41.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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