Davis R M Inc. Has $256,000 Stake in The PNC Financial Services Group, Inc $PNC

Davis R M Inc. reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 40.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,375 shares of the financial services provider’s stock after selling 933 shares during the period. Davis R M Inc.’s holdings in The PNC Financial Services Group were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.7% during the first quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock worth $6,673,217,000 after buying an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of The PNC Financial Services Group by 0.5% in the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after acquiring an additional 24,588 shares in the last quarter. Goldman Sachs Group Inc. increased its position in The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock worth $495,336,000 after acquiring an additional 830,440 shares during the period. Finally, Amundi raised its stake in The PNC Financial Services Group by 76.1% in the 1st quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock worth $352,592,000 after purchasing an additional 944,731 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $185.06 on Tuesday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $72.57 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.26 and a beta of 1.12. The firm has a 50 day simple moving average of $193.35 and a 200 day simple moving average of $187.52.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the business earned $3.49 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were given a $1.70 dividend. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Insider Activity

In other news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,151 shares of company stock valued at $400,092 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Finally, Citigroup increased their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.47.

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.