Washington Capital Management Inc. Sells 95 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Washington Capital Management Inc. reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% in the 1st quarter, HoldingsChannel reports. The firm owned 6,339 shares of the financial services provider’s stock after selling 95 shares during the quarter. The PNC Financial Services Group makes up 1.0% of Washington Capital Management Inc.’s portfolio, making the stock its 24th biggest position. Washington Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $1,112,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Avenue Securities LLC boosted its holdings in The PNC Financial Services Group by 5.4% in the first quarter. Park Avenue Securities LLC now owns 7,183 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 365 shares in the last quarter. Boston Trust Walden Corp grew its position in The PNC Financial Services Group by 0.5% in the 1st quarter. Boston Trust Walden Corp now owns 462,475 shares of the financial services provider’s stock valued at $81,123,000 after purchasing an additional 2,127 shares during the period. Murphy Pohlad Asset Management LLC grew its position in The PNC Financial Services Group by 5.1% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 20,520 shares of the financial services provider’s stock valued at $3,599,000 after purchasing an additional 1,000 shares during the period. Candriam Luxembourg S.C.A. increased its stake in The PNC Financial Services Group by 126.4% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 103,458 shares of the financial services provider’s stock valued at $15,416,000 after purchasing an additional 57,751 shares in the last quarter. Finally, Smith Salley & Associates raised its holdings in The PNC Financial Services Group by 3.1% during the first quarter. Smith Salley & Associates now owns 84,108 shares of the financial services provider’s stock worth $14,754,000 after buying an additional 2,545 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

PNC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $150.00 to $167.00 and gave the stock a “market perform” rating in a report on Monday, January 18th. Deutsche Bank Aktiengesellschaft increased their price objective on The PNC Financial Services Group from $157.00 to $190.00 and gave the stock a “hold” rating in a research note on Thursday, April 1st. Argus lifted their target price on The PNC Financial Services Group from $173.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $197.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on The PNC Financial Services Group from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $178.63.

Shares of NYSE PNC opened at $199.38 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $182.74 and a two-hundred day simple moving average of $158.31. The PNC Financial Services Group, Inc. has a 1-year low of $95.89 and a 1-year high of $203.88. The firm has a market cap of $84.71 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 3.33 and a beta of 1.38.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, April 15th. The financial services provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $2.75 by $1.35. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the company earned $1.95 EPS. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts forecast that The PNC Financial Services Group, Inc. will post 6.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 5th. Stockholders of record on Friday, April 16th were paid a $1.15 dividend. The ex-dividend date of this dividend was Thursday, April 15th. This represents a $4.60 annualized dividend and a dividend yield of 2.31%. The PNC Financial Services Group’s payout ratio is 40.39%.

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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