Mather Group LLC. Grows Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mather Group LLC. lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 28.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,002 shares of the financial services provider’s stock after purchasing an additional 1,750 shares during the quarter. Mather Group LLC.’s holdings in The PNC Financial Services Group were worth $1,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arkadios Wealth Advisors bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $227,000. Allworth Financial LP raised its stake in shares of The PNC Financial Services Group by 4.8% during the fourth quarter. Allworth Financial LP now owns 8,659 shares of the financial services provider’s stock worth $1,341,000 after acquiring an additional 400 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 2.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 41,593 shares of the financial services provider’s stock worth $6,441,000 after acquiring an additional 1,077 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of The PNC Financial Services Group by 7.2% in the 4th quarter. CENTRAL TRUST Co now owns 14,144 shares of the financial services provider’s stock valued at $2,190,000 after purchasing an additional 948 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of The PNC Financial Services Group by 3.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 106,739 shares of the financial services provider’s stock valued at $16,626,000 after purchasing an additional 3,897 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PNC shares. Jefferies Financial Group raised 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. Bank of America upped their price target on shares of The PNC Financial Services Group from $169.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. UBS Group raised their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Barclays increased their target price on shares of 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $176.09.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded up $1.11 on Wednesday, hitting $170.20. The stock had a trading volume of 342,810 shares, compared to its average volume of 1,933,335. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $182.84. The stock has a market cap of $67.72 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The business’s 50-day simple moving average is $162.69 and its two-hundred day simple moving average is $156.36.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $3.36 EPS. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.02 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

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 company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated 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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. Insiders have sold a total of 20,295 shares of company stock valued at $3,547,181 over the last ninety days. 0.42% of the stock is currently owned by company insiders.

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.