Motco lowered its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,191 shares of the financial services provider’s stock after selling 978 shares during the period. Motco’s holdings in PNC Financial Services Group were worth $5,160,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PNC. Toronto Dominion Bank raised its position in shares of PNC Financial Services Group by 18.2% in the second quarter. Toronto Dominion Bank now owns 310,829 shares of the financial services provider’s stock worth $41,984,000 after buying an additional 47,843 shares in the last quarter. Perpetual Ltd raised its position in shares of PNC Financial Services Group by 58.7% in the second quarter. Perpetual Ltd now owns 2,163 shares of the financial services provider’s stock worth $293,000 after buying an additional 800 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of PNC Financial Services Group by 17.0% in the second quarter. Janney Montgomery Scott LLC now owns 187,294 shares of the financial services provider’s stock worth $25,303,000 after buying an additional 27,210 shares in the last quarter. Wesbanco Bank Inc. raised its position in shares of PNC Financial Services Group by 12.3% in the first quarter. Wesbanco Bank Inc. now owns 80,250 shares of the financial services provider’s stock worth $12,137,000 after buying an additional 8,777 shares in the last quarter. Finally, Synovus Financial Corp raised its position in shares of PNC Financial Services Group by 7.3% in the first quarter. Synovus Financial Corp now owns 9,881 shares of the financial services provider’s stock worth $1,496,000 after buying an additional 673 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Separately, Bank of America increased their price objective on PNC Financial Services Group from $166.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Seventeen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $150.87.

PNC opened at $144.88 on Tuesday. The firm has a market capitalization of $67.11 billion, a P/E ratio of 17.04, a PEG ratio of 1.31 and a beta of 0.94. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.16. PNC Financial Services Group Inc has a 52 week low of $119.77 and a 52 week high of $163.59.

The company also recently announced a quarterly dividend, which was paid on Monday, August 6th. Investors of record on Tuesday, July 17th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, July 16th. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.75. PNC Financial Services Group’s dividend payout ratio is currently 44.71%.

In related news, insider Michael J. Hannon sold 5,247 shares of the stock in a transaction on Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total value of $741,820.86. Following the transaction, the insider now owns 58,239 shares of the company’s stock, valued at $8,233,829.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff bought 700 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 18th. The stock was purchased at an average cost of $142.15 per share, for a total transaction of $99,505.00. Following the purchase, the director now owns 1,050 shares of the company’s stock, valued at $149,257.50. The disclosure for this purchase can be found here. In the last three months, insiders sold 34,247 shares of company stock worth $4,830,351. 0.38% of the stock is owned by insiders.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

See Also: Diversification

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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