River Road Asset Management LLC Lowers Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

River Road Asset Management LLC lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 165,538 shares of the financial services provider’s stock after selling 22,277 shares during the period. River Road Asset Management LLC’s holdings in The PNC Financial Services Group were worth $31,578,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Usca Ria LLC lifted its position in The PNC Financial Services Group by 4.3% during the second quarter. Usca Ria LLC now owns 13,950 shares of the financial services provider’s stock valued at $2,661,000 after buying an additional 572 shares during the period. Verition Fund Management LLC purchased a new position in The PNC Financial Services Group during the first quarter valued at $1,117,000. Sullivan Bruyette Speros & Blaney LLC lifted its position in The PNC Financial Services Group by 252.9% during the first quarter. Sullivan Bruyette Speros & Blaney LLC now owns 4,958 shares of the financial services provider’s stock valued at $870,000 after buying an additional 3,553 shares during the period. D.A. Davidson & CO. lifted its position in The PNC Financial Services Group by 28.8% during the first quarter. D.A. Davidson & CO. now owns 145,053 shares of the financial services provider’s stock valued at $25,444,000 after buying an additional 32,459 shares during the period. Finally, Atria Investments LLC lifted its position in The PNC Financial Services Group by 2.9% during the first quarter. Atria Investments LLC now owns 34,347 shares of the financial services provider’s stock valued at $6,025,000 after buying an additional 958 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:PNC opened at $189.28 on Wednesday. The stock has a market capitalization of $80.42 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day simple moving average is $188.07 and its two-hundred day simple moving average is $185.96. The PNC Financial Services Group, Inc. has a 52-week low of $101.58 and a 52-week high of $203.88.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.77 by ($0.34). The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.40 billion. The PNC Financial Services Group had a return on equity of 12.53% and a net margin of 32.72%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $8.40 earnings per share. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 14.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 5th. Stockholders of record on Friday, July 16th were given a dividend of $1.25 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Thursday, July 15th. The PNC Financial Services Group’s payout ratio is presently 78.62%.

In other news, EVP Michael J. Hannon sold 4,200 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $184.16, for a total transaction of $773,472.00. Following the transaction, the executive vice president now directly owns 47,625 shares of the company’s stock, valued at approximately $8,770,620. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 4,575 shares of company stock worth $845,141. Insiders own 0.30% of the company’s stock.

PNC has been the subject of several analyst reports. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $230.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, May 18th. Oppenheimer set a $189.50 price target on The PNC Financial Services Group and gave the company a “hold” rating in a report on Friday, July 16th. Evercore ISI initiated coverage on The PNC Financial Services Group in a report on Wednesday, June 2nd. They set an “outperform” rating for the company. Morgan Stanley raised their price target on The PNC Financial Services Group from $192.00 to $193.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. Finally, Compass Point raised their price target on The PNC Financial Services Group from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, May 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $184.20.

About The PNC Financial Services Group

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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

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