National Asset Management Inc. Increases Stock Holdings in PNC Financial Services Group Inc (NYSE:PNC)

National Asset Management Inc. increased its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 64.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,162 shares of the financial services provider’s stock after acquiring an additional 5,179 shares during the quarter. National Asset Management Inc.’s holdings in PNC Financial Services Group were worth $1,262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc RI lifted its stake in PNC Financial Services Group by 5.8% in the fourth quarter. Citizens Financial Group Inc RI now owns 14,813 shares of the financial services provider’s stock worth $2,365,000 after acquiring an additional 808 shares during the period. First Allied Advisory Services Inc. lifted its stake in PNC Financial Services Group by 7.1% in the fourth quarter. First Allied Advisory Services Inc. now owns 12,568 shares of the financial services provider’s stock worth $2,011,000 after acquiring an additional 836 shares during the period. Capital Analysts LLC lifted its stake in PNC Financial Services Group by 63.4% in the fourth quarter. Capital Analysts LLC now owns 1,031 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 400 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in PNC Financial Services Group by 323.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 2,955 shares during the period. Finally, AMF Pensionsforsakring AB lifted its stake in PNC Financial Services Group by 13.6% in the fourth quarter. AMF Pensionsforsakring AB now owns 678,019 shares of the financial services provider’s stock worth $108,232,000 after acquiring an additional 81,017 shares during the period. 82.03% of the stock is owned by institutional investors.

In other PNC Financial Services Group news, Director Andrew T. Feldstein bought 10,535 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $94.92 per share, with a total value of $999,982.20. Following the transaction, the director now owns 53,158 shares in the company, valued at $5,045,757.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Harshman bought 1,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $97.55 per share, with a total value of $97,550.00. Following the transaction, the director now owns 1,150 shares in the company, valued at approximately $112,182.50. The disclosure for this purchase can be found here. In the last three months, insiders acquired 21,302 shares of company stock valued at $2,097,575. 0.30% of the stock is owned by insiders.

PNC Financial Services Group stock traded up $1.42 during mid-day trading on Friday, reaching $104.61. The stock had a trading volume of 3,231,212 shares, compared to its average volume of 3,035,372. The company has a market capitalization of $43.78 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 2.57 and a beta of 1.29. The company has a 50-day moving average price of $99.68 and a two-hundred day moving average price of $132.48. PNC Financial Services Group Inc has a one year low of $79.41 and a one year high of $161.79. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.90 and a quick ratio of 0.89.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.24. PNC Financial Services Group had a net margin of 23.23% and a return on equity of 10.16%. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the business posted $2.61 EPS. PNC Financial Services Group’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that PNC Financial Services Group Inc will post 5.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Thursday, April 16th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Wednesday, April 15th. PNC Financial Services Group’s dividend payout ratio (DPR) is 40.39%.

Several equities analysts have commented on PNC shares. Nomura Securities raised PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $95.00 to $114.00 in a research report on Thursday, April 16th. Deutsche Bank dropped their target price on shares of PNC Financial Services Group from $155.00 to $108.00 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Citigroup dropped their target price on shares of PNC Financial Services Group from $130.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $146.00 target price on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley dropped their target price on shares of PNC Financial Services Group from $107.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $126.67.

About PNC Financial Services Group

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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