National Asset Management Inc. Grows Stock Position in PNC Financial Services Group Inc (NYSE:PNC)

National Asset Management Inc. boosted its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 64.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,162 shares of the financial services provider’s stock after buying an additional 5,179 shares during the quarter. National Asset Management Inc.’s holdings in PNC Financial Services Group were worth $1,262,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Staley Capital Advisers Inc. raised its holdings in PNC Financial Services Group by 10.3% during the 1st quarter. Staley Capital Advisers Inc. now owns 9,645 shares of the financial services provider’s stock valued at $923,000 after buying an additional 897 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in PNC Financial Services Group by 501.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 102,322 shares of the financial services provider’s stock worth $9,794,000 after purchasing an additional 85,301 shares during the period. NewSquare Capital LLC increased its stake in PNC Financial Services Group by 164.5% in the first quarter. NewSquare Capital LLC now owns 857 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 533 shares during the period. Quadrant Private Wealth Management LLC purchased a new stake in PNC Financial Services Group in the first quarter worth $3,922,000. Finally, Commerce Bank increased its stake in PNC Financial Services Group by 6.0% in the first quarter. Commerce Bank now owns 19,786 shares of the financial services provider’s stock worth $1,894,000 after purchasing an additional 1,119 shares during the period. Institutional investors own 82.03% of the company’s stock.

In other PNC Financial Services Group news, Director Richard J. Harshman purchased 1,000 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $97.55 per share, with a total value of $97,550.00. Following the completion of the acquisition, the director now owns 1,150 shares in the company, valued at $112,182.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein purchased 10,535 shares of the stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $94.92 per share, with a total value of $999,982.20. Following the acquisition, the director now owns 53,158 shares of the company’s stock, valued at approximately $5,045,757.36. 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. Corporate insiders own 0.30% of the company’s stock.

A number of analysts have weighed in on PNC shares. ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Oppenheimer reiterated a “hold” rating on shares of PNC Financial Services Group in a research note on Sunday, April 19th. UBS Group lowered PNC Financial Services Group from a “neutral” rating to a “sell” rating and set a $88.00 target price on the stock. in a research note on Monday, May 4th. Wells Fargo & Co reiterated a “buy” rating on shares of PNC Financial Services Group in a research note on Monday, April 6th. Finally, Nomura Securities upgraded PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $114.00 in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $126.67.

PNC stock traded up $1.42 during trading on Friday, reaching $104.61. 3,231,212 shares of the company traded hands, compared to its average volume of 3,035,372. PNC Financial Services Group Inc has a 12 month low of $79.41 and a 12 month high of $161.79. The business has a 50 day simple moving average of $99.68 and a 200 day simple moving average of $132.48. The company has a market capitalization of $43.78 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 2.57 and a beta of 1.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 0.90.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.24. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. PNC Financial Services Group had a return on equity of 10.16% and a net margin of 23.23%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $2.61 earnings per share. As a group, research analysts forecast that PNC Financial Services Group Inc will post 5.73 EPS for the current year.

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

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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