Telos Capital Management Inc. Lowers Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Telos Capital Management Inc. decreased its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,046 shares of the financial services provider’s stock after selling 78 shares during the period. Telos Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $6,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PNC. Brighton Jones LLC boosted its position in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $37,587,000. Edgestream Partners L.P. acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $627,000. Daiwa Securities Group Inc. lifted its stake in shares of The PNC Financial Services Group by 7.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 52,084 shares of the financial services provider’s stock worth $10,044,000 after acquiring an additional 3,573 shares in the last quarter. Finally, Independent Advisor Alliance lifted its stake in shares of The PNC Financial Services Group by 11.2% in the fourth quarter. Independent Advisor Alliance now owns 17,734 shares of the financial services provider’s stock worth $3,420,000 after acquiring an additional 1,779 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Raymond James Financial upgraded The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a research note on Tuesday. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Citigroup cut their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $209.11.

Insider Activity

In related news, Director Martin Pfinsgraff acquired 1,000 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director owned 2,009 shares of the company’s stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer owned 554,879 shares of the company’s stock, valued at $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,186 shares of company stock worth $1,686,634. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $196.29 on Thursday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The stock has a fifty day moving average of $178.02 and a 200-day moving average of $180.18. The company has a market capitalization of $77.65 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s dividend payout ratio is 45.20%.

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 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.