Rayburn West Financial Services LLC Purchases Shares of 17,848 The PNC Financial Services Group, Inc $PNC

Rayburn West Financial Services LLC purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,848 shares of the financial services provider’s stock, valued at approximately $4,395,000. The PNC Financial Services Group makes up approximately 2.4% of Rayburn West Financial Services LLC’s portfolio, making the stock its 14th biggest position.

Other large investors have also modified their holdings of the company. Monetary Solutions Ltd purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $25,000. Quarry LP acquired a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $28,000. Modus Advisors LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $29,000. Finally, Financial Life Planners purchased a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. The trade was a 15.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,654 shares of company stock valued at $11,552,661 in the last three months. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group raised their price target on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. raised their target price on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. Finally, Stephens lifted their price target on The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $265.73.

The PNC Financial Services Group Stock Performance

PNC opened at $254.43 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc has a 12-month low of $176.88 and a 12-month high of $258.96. The firm has a 50 day moving average of $247.74 and a two-hundred day moving average of $228.96. The firm has a market capitalization of $101.50 billion, a PE ratio of 14.00, a P/E/G ratio of 1.02 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.85 earnings per share. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is currently 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.