1,925 Shares in The PNC Financial Services Group, Inc (NYSE:PNC) Bought by Cheviot Value Management LLC

Cheviot Value Management LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the first quarter, HoldingsChannel reports. The firm bought 1,925 shares of the financial services provider’s stock, valued at approximately $319,000.

A number of other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after purchasing an additional 608,375 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock worth $713,063,000 after purchasing an additional 186,249 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider’s stock worth $689,084,000 after purchasing an additional 179,760 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of The PNC Financial Services Group by 10.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,273,376 shares of the financial services provider’s stock worth $631,271,000 after purchasing an additional 322,982 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer owned 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president directly owned 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,218 shares of company stock valued at $900,918. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Down 2.4%

Shares of The PNC Financial Services Group stock opened at $185.78 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a market cap of $73.49 billion, a PE ratio of 12.71, a P/E/G ratio of 1.38 and a beta of 1.09. The stock has a fifty day moving average price of $185.92 and a 200-day moving average price of $180.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the firm posted $3.39 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a $1.70 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is 46.51%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PNC. Bank of America increased their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Royal Bank Of Canada cut their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Citigroup increased their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. TD Cowen began coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $233.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.17.

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.