Parsons Capital Management Inc. RI Purchases 90 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Parsons Capital Management Inc. RI increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,234 shares of the financial services provider’s stock after buying an additional 90 shares during the period. Parsons Capital Management Inc. RI’s holdings in The PNC Financial Services Group were worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mechanics Financial Corp bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $541,000. AssuredPartners Investment Advisors LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $739,000. Premier Fund Managers Ltd boosted its position in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after purchasing an additional 13,700 shares during the period. Mn Services Vermogensbeheer B.V. increased its holdings in shares of The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares during the last quarter. Finally, PKS Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $357,000. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $171.15, for a total value of $212,568.30. Following the completion of the sale, the chief executive officer now owns 567,299 shares of the company’s stock, valued at $97,093,223.85. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,154 shares of company stock worth $2,525,591. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $206.00 to $202.00 in a report on Monday, March 31st. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company reduced their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.67.

The PNC Financial Services Group Trading Up 0.5%

Shares of PNC stock opened at $179.60 on Wednesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock’s fifty day moving average price is $165.56 and its two-hundred day moving average price is $183.02. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $71.04 billion, a PE ratio of 13.06, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.56%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

About The PNC Financial Services Group

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.