RNC Capital Management LLC lessened its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 1.2% during the first quarter, HoldingsChannel.com reports. The firm owned 10,244 shares of the financial services provider’s stock after selling 125 shares during the quarter. RNC Capital Management LLC’s holdings in PNC Financial Services Group were worth $1,257,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of PNC. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in PNC Financial Services Group during the first quarter valued at approximately $25,000. IMS Capital Management purchased a new position in shares of PNC Financial Services Group in the third quarter worth $28,000. Executive Wealth Management LLC purchased a new position in shares of PNC Financial Services Group in the fourth quarter worth $29,000. Transamerica Financial Advisors Inc. purchased a new position in shares of PNC Financial Services Group in the fourth quarter worth $36,000. Finally, Athena Capital Advisors LLC purchased a new position in shares of PNC Financial Services Group in the fourth quarter worth $37,000. Institutional investors own 82.27% of the company’s stock.
In related news, EVP Robert Q. Reilly sold 12,361 shares of the company’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $122.50, for a total value of $1,514,222.50. Following the completion of the sale, the executive vice president now directly owns 118,671 shares of the company’s stock, valued at $14,537,197.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Hannon sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $124.82, for a total transaction of $624,100.00. Following the completion of the sale, the insider now directly owns 53,239 shares of the company’s stock, valued at $6,645,291.98. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.
Shares of PNC traded down $0.31 during trading hours on Thursday, reaching $133.56. 13,270 shares of the company traded hands, compared to its average volume of 2,415,012. The firm has a market capitalization of $60.75 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.53 and a beta of 1.05. PNC Financial Services Group Inc has a 12-month low of $108.45 and a 12-month high of $152.29. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.23.
PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $2.61. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm earned $2.43 earnings per share. Analysts predict that PNC Financial Services Group Inc will post 11.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Tuesday, April 16th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, April 15th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 35.48%.
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About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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