The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 87.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,374 shares of the financial services provider’s stock after selling 16,202 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in The PNC Financial Services Group were worth $369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC increased its stake in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares during the period. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the second quarter worth $26,000. LRI Investments LLC purchased a new stake in The PNC Financial Services Group during the first quarter worth $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group during the first quarter worth $29,000. Finally, Fortis Group Advisors LLC boosted its holdings in 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 buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $179.95 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $71.60 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The company’s 50 day simple moving average is $178.10 and its 200-day simple moving average is $164.65. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.36 earnings per share. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,465 shares of company stock worth $4,681,565. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PNC shares. Jefferies Financial Group increased their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $176.90.

The PNC Financial Services Group Company Profile

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.