CRA Financial Services LLC Sells 300 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

CRA Financial Services LLC lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,353 shares of the financial services provider’s stock after selling 300 shares during the period. CRA Financial Services LLC’s holdings in The PNC Financial Services Group were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNC. Tower Research Capital LLC TRC lifted its holdings in shares of The PNC Financial Services Group by 88.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 14,217 shares of the financial services provider’s stock worth $1,745,000 after acquiring an additional 6,678 shares during the period. CWA Asset Management Group LLC lifted its stake in The PNC Financial Services Group by 25.8% in the 3rd quarter. CWA Asset Management Group LLC now owns 2,563 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 526 shares during the last quarter. Ancora Advisors LLC lifted its stake in The PNC Financial Services Group by 12.5% in the 3rd quarter. Ancora Advisors LLC now owns 9,009 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 1,000 shares during the last quarter. United Services Automobile Association bought a new position in The PNC Financial Services Group in the 3rd quarter valued at approximately $1,271,000. Finally, SRS Capital Advisors Inc. lifted its stake in The PNC Financial Services Group by 24.5% in the 3rd quarter. SRS Capital Advisors Inc. now owns 2,458 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 483 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Bank of America upped their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $158.43.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 2.3 %

NYSE PNC traded up $3.55 during mid-day trading on Friday, reaching $155.48. 2,706,290 shares of the stock were exchanged, compared to its average volume of 1,482,709. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The stock has a 50 day simple moving average of $155.18 and a 200-day simple moving average of $152.91. The stock has a market cap of $61.87 billion, a P/E ratio of 13.05, a P/E/G ratio of 2.17 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm earned $3.98 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.99%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

The PNC Financial Services Group 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.