The PNC Financial Services Group, Inc $PNC Holdings Reduced by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 460,211 shares of the financial services provider’s stock after selling 10,064 shares during the quarter. Glenmede Trust Co. NA owned about 0.11% of The PNC Financial Services Group worth $95,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PNC. Monetary Solutions Ltd bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Quarry LP acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $29,000. Financial Life Planners bought a new stake in The PNC Financial Services Group during the 1st quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC raised its stake in The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,300 shares of company stock worth $10,694,574 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group increased their price target on The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada lifted their price objective on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Bank of America upped their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 target price on the stock. in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $265.73.

The PNC Financial Services Group Trading Up 0.6%

Shares of PNC stock opened at $250.21 on Friday. The stock has a 50-day simple moving average of $240.24 and a 200 day simple moving average of $226.01. The stock has a market capitalization of $100.48 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.99 and a beta of 0.91. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $256.49. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.29.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the business earned $3.85 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, sell-side analysts expect that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is presently 44.03%.

The PNC Financial Services Group Profile

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.