HM Payson & Co. maintained its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,887 shares of the financial services provider’s stock at the end of the first quarter. HM Payson & Co.’s holdings in PNC Financial Services Group, Inc. (The) were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. First Interstate Bank boosted its position in shares of PNC Financial Services Group, Inc. (The) by 34.0% in the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after buying an additional 243 shares during the last quarter. Ledyard National Bank boosted its position in shares of PNC Financial Services Group, Inc. (The) by 532.1% in the first quarter. Ledyard National Bank now owns 1,182 shares of the financial services provider’s stock valued at $142,000 after buying an additional 995 shares during the last quarter. Pinnacle Bank acquired a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at approximately $157,000. Quadrant Capital Group LLC boosted its position in shares of PNC Financial Services Group, Inc. (The) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 1,413 shares of the financial services provider’s stock valued at $162,000 after buying an additional 39 shares during the last quarter. Finally, Jacobus Wealth Management Inc. boosted its position in shares of PNC Financial Services Group, Inc. (The) by 3.7% in the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE:PNC) traded down 1.62% during trading on Thursday, reaching $129.60. 891,130 shares of the company were exchanged. PNC Financial Services Group, Inc. has a one year low of $84.60 and a one year high of $133.26. The stock has a market capitalization of $62.11 billion, a price-to-earnings ratio of 16.49 and a beta of 0.93. The firm’s 50 day moving average price is $126.80 and its 200-day moving average price is $123.18.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the business posted $1.82 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were paid a $0.75 dividend. This is a boost from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 38.12%.

WARNING: “HM Payson & Co. Has $347,000 Stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC)” was originally published by Daily Political and is the property of of Daily Political. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/08/10/hm-payson-co-has-347000-stake-in-pnc-financial-services-group-inc-the-nysepnc.html.

Several brokerages recently commented on PNC. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 target price for the company in a report on Friday, July 28th. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Keefe, Bruyette & Woods set a $125.00 target price on shares of PNC Financial Services Group, Inc. (The) and gave the stock a “hold” rating in a report on Friday, May 19th. Instinet restated a “neutral” rating and set a $126.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Wednesday, July 12th. Finally, Nomura increased their target price on shares of PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a “neutral” rating in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. PNC Financial Services Group, Inc. (The) presently has a consensus rating of “Hold” and an average target price of $122.57.

In other news, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the sale, the insider now directly owns 83,931 shares in the company, valued at $10,613,074.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group, Inc. (The) (NYSE:PNC).

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

Receive News & Ratings for PNC Financial Services Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.