Affinity Investment Advisors LLC trimmed its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 32.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,370 shares of the financial services provider’s stock after selling 22,143 shares during the period. Affinity Investment Advisors LLC’s holdings in PNC Financial Services Group were worth $5,565,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PNC Financial Services Group during the first quarter worth $25,000. Field & Main Bank acquired a new stake in shares of PNC Financial Services Group during the first quarter worth $25,000. Executive Wealth Management LLC acquired a new stake in shares of PNC Financial Services Group during the fourth quarter worth $29,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of PNC Financial Services Group during the fourth quarter worth $36,000. Finally, Athena Capital Advisors LLC acquired a new stake in shares of PNC Financial Services Group during the fourth quarter worth $37,000. Institutional investors and hedge funds own 82.67% of the company’s stock.
In other news, Director Martin Pfinsgraff acquired 500 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was bought at an average price of $125.69 per share, with a total value of $62,845.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph E. Rockey sold 6,000 shares of PNC Financial Services Group stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the transaction, the insider now directly owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.
Shares of PNC stock opened at $130.22 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $152.25. The firm has a market capitalization of $58.09 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, meeting the 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 for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $2.43 EPS. Research analysts expect that PNC Financial Services Group Inc will post 11.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th were paid a $0.95 dividend. The ex-dividend date was Monday, April 15th. This represents a $3.80 annualized dividend and a yield of 2.92%. PNC Financial Services Group’s payout ratio is currently 35.48%.
About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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