Jones Financial Companies Lllp Takes $1.13 Million Position in The PNC Financial Services Group, Inc $PNC

Jones Financial Companies Lllp acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 4,579 shares of the financial services provider’s stock, valued at approximately $1,127,000.

Other large investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in The PNC Financial Services Group during the second quarter valued at about $28,000. Monetary Solutions Ltd bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $25,000. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $25,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $29,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $31,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Robert W. Baird increased their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective for the company. in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Barclays boosted their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This represents a 36.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stacy M. Juchno sold 3,354 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,654 shares of company stock valued at $1,627,011 over the last three months. 0.38% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.2%

Shares of PNC stock opened at $243.70 on Tuesday. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $258.96. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. The firm has a market cap of $97.22 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91. The stock has a 50 day moving average of $248.56 and a 200-day moving average of $229.42.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm posted $3.85 earnings per share. The PNC Financial Services Group’s revenue was up 21.4% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were paid a $2.00 dividend. The ex-dividend date was Monday, July 20th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio is 44.03%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.