Gamco Investors INC. ET AL Sells 12,483 Shares of The PNC Financial Services Group, Inc $PNC

Gamco Investors INC. ET AL lessened its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,393 shares of the financial services provider’s stock after selling 12,483 shares during the quarter. Gamco Investors INC. ET AL’s holdings in The PNC Financial Services Group were worth $27,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $1,967,080,000. Viking Global Investors LP raised its position in shares of The PNC Financial Services Group by 234.9% in the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after buying an additional 5,581,102 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of The PNC Financial Services Group by 961.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider’s stock worth $549,023,000 after acquiring an additional 2,382,552 shares during the period. Deutsche Bank AG lifted its holdings in shares of The PNC Financial Services Group by 108.2% during the 4th quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock worth $800,884,000 after acquiring an additional 1,994,431 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of The PNC Financial Services Group by 50.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock worth $700,305,000 after acquiring an additional 1,162,964 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PNC shares. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Barclays upped their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Stephens raised their target price on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. lifted their price target on The PNC Financial Services Group from $238.00 to $264.50 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $265.48.

The PNC Financial Services Group Trading Up 0.5%

Shares of The PNC Financial Services Group stock opened at $250.59 on Friday. The firm’s 50 day moving average is $236.91 and its 200 day moving average is $224.87. The firm has a market capitalization of $100.63 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $256.49. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.29.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating 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 business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the prior year, the firm earned $3.85 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. Equities research analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 44.03%.

Insider Activity

In related news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’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 directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 48,300 shares of company stock worth $10,694,574. Insiders own 0.38% of the company’s stock.

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.