PNC Financial Services Group Inc (NYSE:PNC) Holdings Lowered by Norris Perne & French LLP MI

Norris Perne & French LLP MI trimmed its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 6.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,508 shares of the financial services provider’s stock after selling 240 shares during the period. Norris Perne & French LLP MI’s holdings in PNC Financial Services Group were worth $430,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Oakworth Capital Inc. raised its holdings in PNC Financial Services Group by 15.5% during the fourth quarter. Oakworth Capital Inc. now owns 640 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 86 shares in the last quarter. Adviser Investments LLC grew its position in PNC Financial Services Group by 2.7% during the fourth quarter. Adviser Investments LLC now owns 3,509 shares of the financial services provider’s stock worth $410,000 after buying an additional 91 shares during the period. Cohen & Steers Inc. grew its position in PNC Financial Services Group by 0.6% during the third quarter. Cohen & Steers Inc. now owns 16,001 shares of the financial services provider’s stock worth $2,179,000 after buying an additional 96 shares during the period. Parkside Financial Bank & Trust grew its position in PNC Financial Services Group by 31.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 409 shares of the financial services provider’s stock worth $48,000 after buying an additional 97 shares during the period. Finally, Indiana Trust & Investment Management CO grew its position in PNC Financial Services Group by 3.8% during the fourth quarter. Indiana Trust & Investment Management CO now owns 2,735 shares of the financial services provider’s stock worth $320,000 after buying an additional 100 shares during the period. 82.67% of the stock is owned by institutional investors and hedge funds.

PNC has been the topic of several recent analyst reports. Macquarie upgraded shares of PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a research report on Wednesday, March 6th. Deutsche Bank lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $123.89 price target on the stock. in a research report on Friday, January 25th. Barclays increased their price target on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Morgan Stanley increased their price target on shares of PNC Financial Services Group from $138.00 to $142.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Zacks Investment Research lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $143.63.

In other news, Director Martin Pfinsgraff purchased 500 shares of the stock in a transaction that occurred on Thursday, February 21st. The stock was acquired at an average cost of $125.69 per share, with a total value of $62,845.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph E. Rockey sold 6,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total transaction of $810,000.00. Following the sale, the insider now directly owns 24,747 shares of the company’s stock, valued at $3,340,845. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

NYSE:PNC traded down $0.06 during trading hours on Wednesday, reaching $132.02. 1,045,105 shares of the company were exchanged, compared to its average volume of 2,197,014. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.23. The company has a market cap of $59.63 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.51 and a beta of 1.09. PNC Financial Services Group Inc has a 52-week low of $108.45 and a 52-week high of $151.07.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $2.61. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm posted $2.43 earnings per share. Research analysts forecast that PNC Financial Services Group Inc will post 11.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Tuesday, April 16th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Monday, April 15th. PNC Financial Services Group’s dividend payout ratio is presently 35.48%.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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.

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

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