Oppenheimer Asset Management Inc. increases its position in PNC Financial Services Group, Inc. (NYSE:PNC)

Oppenheimer Asset Management Inc. increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. . The fund owned 24,146 shares of the financial services provider’s stock after buying an additional 1,236 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in PNC Financial Services Group were worth $3,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PNC. ORG Partners LLC grew its position in PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares shares in the last quarter. Bank & Trust Co purchased a new position in The PNC Financial Services Group in the second quarter valued at $26,000. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter worth about $29,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 83.53% of shares are owned by institutional investors and hedge funds.

Analyst upgrades and downgrades

A number of research firms have weighed in on PNC. Jefferies Financial Group boosted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research note. Wednesday, July 17. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $176.90, according to MarketBeat.com.

Get the latest stock analysis on PNC

PNC Financial Services Group trading up 2.1%

Shares of PNC stock opened at $180.98 on Tuesday. The stock has a market cap of $71.94 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.97 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. PNC Financial Services Group, Inc. it has a fifty-two week low of $109.40 and a fifty-two week high of $185.84. The company has a fifty day simple moving average of $175.61 and a 200 day simple moving average of $162.13.

PNC Financial Services Group (NYSE:PNC – Get Free Report ) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm posted EPS of $3.36. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts estimate that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

PNC Financial Services Group increases dividends

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a dividend of $6.40 on an annualized basis and a yield of 3.54%. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $1.55. PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider buying and selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The transaction was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares in the company, valued at approximately $87,061,400.37. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now owns 554,701 shares in the company, valued at $101,604,582.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,263 shares of company stock worth $4,418,109. 0.42% of the stock is owned by insiders.

About PNC Financial Services Group

(Free report)

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 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 services and cash management.

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