Ferguson Wellman Capital Management Inc. Has $1.86 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ferguson Wellman Capital Management Inc. lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% during the first quarter, HoldingsChannel.com reports. The firm owned 11,518 shares of the financial services provider’s stock after selling 166 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $1,861,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Finally, Core Wealth Advisors Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $31,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $153.69 on Thursday. The firm has a market capitalization of $61.15 billion, a PE ratio of 12.97, a PEG ratio of 2.20 and a beta of 1.16. The company’s 50-day moving average is $154.70 and its 200-day moving average is $152.27. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.98 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.03%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Evercore ISI cut their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report 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 report on Wednesday, May 1st. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $157.83.

The PNC Financial Services Group 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.