Annapolis Financial Services LLC Decreases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Annapolis Financial Services LLC reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,434 shares of the financial services provider’s stock after selling 187 shares during the period. Annapolis Financial Services LLC’s holdings in The PNC Financial Services Group were worth $393,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Founders Financial Securities LLC increased its stake in The PNC Financial Services Group by 1.1% in the first quarter. Founders Financial Securities LLC now owns 12,299 shares of the financial services provider’s stock valued at $1,988,000 after purchasing an additional 132 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in The PNC Financial Services Group by 9.9% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 2,233 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 201 shares during the period. Home Federal Bank of Tennessee acquired a new position in The PNC Financial Services Group in the first quarter valued at $208,000. Vicus Capital acquired a new position in The PNC Financial Services Group in the first quarter valued at $300,000. Finally, First Bank & Trust increased its stake in The PNC Financial Services Group by 5.5% in the first quarter. First Bank & Trust now owns 16,836 shares of the financial services provider’s stock valued at $2,721,000 after purchasing an additional 873 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PNC. Bank of America boosted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. dropped their price target 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. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Jefferies Financial Group decreased their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. Finally, HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $158.43.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 2.3 %

PNC stock traded up $3.55 on Friday, hitting $155.48. 2,706,290 shares of the company were exchanged, compared to its average volume of 1,482,709. 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 debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The business’s fifty day moving average is $155.18 and its two-hundred day moving average is $152.91. The stock has a market capitalization of $61.87 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business posted $3.98 earnings per share. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

The PNC Financial Services Group Company 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.