Schneider Downs Wealth Management Advisors LP Sells 634 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Schneider Downs Wealth Management Advisors LP decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,010 shares of the financial services provider’s stock after selling 634 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in The PNC Financial Services Group were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in The PNC Financial Services Group in the second quarter valued at about $26,000. ORG Partners LLC lifted its stake in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter worth $29,000. Finally, Core Wealth Advisors Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $178.78 on Wednesday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.84. The firm has a 50-day moving average price of $173.97 and a two-hundred day moving average price of $161.22. The company has a market capitalization of $71.07 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.96 and a beta of 1.14. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the company earned $3.36 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a dividend of $1.60 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.58%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 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 firm’s stock in a transaction 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 sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO William S. Demchak sold 2,404 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock worth $4,418,109 over the last three months. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PNC. Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Evercore ISI lifted their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, UBS Group raised their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $177.02.

About The PNC Financial Services Group

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.