HM Payson & Co. Has $480,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

HM Payson & Co. decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,598 shares of the financial services provider’s stock after selling 228 shares during the quarter. HM Payson & Co.’s holdings in The PNC Financial Services Group were worth $480,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Norden Group LLC boosted its stake in The PNC Financial Services Group by 52.6% in the 1st quarter. Norden Group LLC now owns 2,630 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 907 shares during the period. J.W. Cole Advisors Inc. lifted its position in shares of The PNC Financial Services Group by 2.1% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,912 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 102 shares during the period. Private Advisor Group LLC lifted its position in shares of The PNC Financial Services Group by 5.3% during the 1st quarter. Private Advisor Group LLC now owns 61,369 shares of the financial services provider’s stock valued at $9,917,000 after acquiring an additional 3,089 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $282,000. Finally, Mission Wealth Management LP bought a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $247,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $187.15 on Friday. The PNC Financial Services Group, Inc. has a one year low of $114.51 and a one year high of $196.64. The stock’s fifty day moving average is $183.94 and its 200 day moving average is $169.34. The stock has a market cap of $74.39 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.42%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the sale, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the transaction, the chief executive officer now owns 558,427 shares in the company, valued at approximately $94,994,016.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,279 shares of company stock valued at $2,418,591. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PNC. Stephens boosted their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Citigroup boosted their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $185.71.

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.