TD Asset Management Inc. decreased its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 7.8% during the 1st quarter, HoldingsChannel reports. The fund owned 593,251 shares of the financial services provider’s stock after selling 49,890 shares during the period. TD Asset Management Inc.’s holdings in PNC Financial Services Group were worth $72,768,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of PNC Financial Services Group during the 1st quarter worth approximately $25,000. Field & Main Bank acquired a new position in shares of PNC Financial Services Group during the 1st quarter worth approximately $25,000. Executive Wealth Management LLC acquired a new position in shares of PNC Financial Services Group during the 4th quarter worth approximately $29,000. Transamerica Financial Advisors Inc. acquired a new position in shares of PNC Financial Services Group during the 4th quarter worth approximately $36,000. Finally, Athena Capital Advisors LLC acquired a new position in shares of PNC Financial Services Group during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

NYSE PNC traded up $0.41 during midday trading on Tuesday, hitting $131.75. The company had a trading volume of 348,703 shares, compared to its average volume of 2,220,337. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.88 and a quick ratio of 0.88. PNC Financial Services Group Inc has a fifty-two week low of $108.45 and a fifty-two week high of $152.25. The firm has a market capitalization of $58.79 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.51 and a beta of 1.09.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, meeting the 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 business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $2.43 EPS. As a group, sell-side analysts expect 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 given a dividend of $0.95 per share. The ex-dividend date was Monday, April 15th. This represents a $3.80 annualized dividend and a dividend yield of 2.88%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 35.48%.

In other PNC Financial Services Group news, Director Martin Pfinsgraff bought 500 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were acquired at an average cost of $125.69 per share, for a total transaction of $62,845.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph E. Rockey sold 6,000 shares of PNC Financial Services Group stock in a transaction dated 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 owns 24,747 shares in the company, valued at $3,340,845. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

Several brokerages recently issued reports on PNC. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Morgan Stanley raised their price target on shares of PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Barclays raised their price target on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. UBS Group set a $133.00 price target on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $143.63.

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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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