Park Avenue Securities LLC Grows Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Park Avenue Securities LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,147 shares of the financial services provider’s stock after acquiring an additional 196 shares during the quarter. Park Avenue Securities LLC’s holdings in The PNC Financial Services Group were worth $1,801,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Lantz Financial LLC boosted its stake in The PNC Financial Services Group by 4.2% during the first quarter. Lantz Financial LLC now owns 2,058 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 83 shares in the last quarter. Wedmont Private Capital boosted its stake in The PNC Financial Services Group by 3.1% during the first quarter. Wedmont Private Capital now owns 3,424 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 104 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in The PNC Financial Services Group by 11.6% during the first quarter. Banque Cantonale Vaudoise now owns 26,808 shares of the financial services provider’s stock worth $4,332,000 after acquiring an additional 2,778 shares in the last quarter. Czech National Bank boosted its stake in The PNC Financial Services Group by 0.4% during the first quarter. Czech National Bank now owns 70,038 shares of the financial services provider’s stock worth $11,318,000 after acquiring an additional 272 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in The PNC Financial Services Group by 5.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 26,867 shares of the financial services provider’s stock worth $4,342,000 after acquiring an additional 1,410 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Evercore ISI lowered their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $157.83.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.0 %

PNC opened at $153.20 on Monday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $154.73 and a 200 day moving average price of $152.55. The company has a market cap of $60.96 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.05%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

The PNC Financial Services Group Profile

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.