Stephens Inc. AR Sells 3,010 Shares of PNC Financial Services Group Inc (NYSE:PNC)

Stephens Inc. AR decreased its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 8.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,366 shares of the financial services provider’s stock after selling 3,010 shares during the period. Stephens Inc. AR’s holdings in PNC Financial Services Group were worth $4,718,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PNC. Brightworth raised its stake in shares of PNC Financial Services Group by 4.1% in the second quarter. Brightworth now owns 1,784 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 70 shares during the last quarter. Holistic Financial Partners raised its stake in shares of PNC Financial Services Group by 3.9% in the first quarter. Holistic Financial Partners now owns 2,139 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 80 shares during the last quarter. Nelson Roberts Investment Advisors LLC raised its stake in shares of PNC Financial Services Group by 14.8% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 637 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 82 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of PNC Financial Services Group by 3.7% in the first quarter. Independence Bank of Kentucky now owns 2,365 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 85 shares during the last quarter. Finally, FDx Advisors Inc. raised its stake in shares of PNC Financial Services Group by 0.8% in the second quarter. FDx Advisors Inc. now owns 10,110 shares of the financial services provider’s stock valued at $1,388,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.

Shares of PNC Financial Services Group stock traded up $2.53 during midday trading on Friday, reaching $127.27. The company had a trading volume of 38,129 shares, compared to its average volume of 2,085,131. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $58.22 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.70 and a beta of 1.07. The stock has a fifty day simple moving average of $138.09 and a 200 day simple moving average of $131.35. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $147.00.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.05. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. PNC Financial Services Group’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.72 earnings per share. Sell-side analysts expect that PNC Financial Services Group Inc will post 11.29 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 19th were issued a $1.15 dividend. The ex-dividend date was Thursday, July 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.95%.

In other PNC Financial Services Group news, insider Gregory H. Kozich sold 10,000 shares of PNC Financial Services Group stock in a transaction 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 owns 20,080 shares of the company’s stock, valued at approximately $2,807,585.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 75,000 shares of PNC Financial Services Group stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $140.63, for a total transaction of $10,547,250.00. Following the sale, the chief executive officer now directly owns 657,179 shares of the company’s stock, valued at approximately $92,419,082.77. The disclosure for this sale can be found here. In the last three months, insiders sold 141,242 shares of company stock valued at $19,853,468. 0.37% of the stock is currently owned by company insiders.

PNC has been the subject of a number of research analyst reports. Morgan Stanley set a $141.00 target price on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target 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.

See Also: Why is cost of goods sold important?

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

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

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.