Cardinal Capital Management Inc. Has $14.417 Million Position in PNC Financial Services Group Inc (PNC)

Cardinal Capital Management Inc. reduced its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,901 shares of the financial services provider’s stock after selling 17,078 shares during the period. PNC Financial Services Group comprises approximately 1.5% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. Cardinal Capital Management Inc.’s holdings in PNC Financial Services Group were worth $14,417,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PNC. Catawba Capital Management VA increased its stake in PNC Financial Services Group by 0.3% in the first quarter. Catawba Capital Management VA now owns 20,641 shares of the financial services provider’s stock valued at $2,482,000 after buying an additional 60 shares during the last quarter. Manning & Napier Advisors LLC increased its position in PNC Financial Services Group by 2.5% in the first quarter. Manning & Napier Advisors LLC now owns 64,944 shares of the financial services provider’s stock worth $7,807,000 after buying an additional 1,557 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in PNC Financial Services Group by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 470,023 shares of the financial services provider’s stock worth $56,515,000 after buying an additional 13,381 shares in the last quarter. Bridges Investment Management Inc. purchased a new position in PNC Financial Services Group during the first quarter worth about $204,000. Finally, Park National Corp OH increased its position in PNC Financial Services Group by 2.5% in the first quarter. Park National Corp OH now owns 21,167 shares of the financial services provider’s stock worth $2,545,000 after buying an additional 523 shares in the last quarter. 78.71% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

PNC Financial Services Group Inc (NYSE:PNC) traded down 0.31% during trading on Friday, reaching $118.46. The company’s stock had a trading volume of 889,482 shares. The company has a market capitalization of $57.45 billion, a P/E ratio of 15.62 and a beta of 0.91. The firm’s 50-day moving average price is $121.52 and its 200 day moving average price is $113.61. PNC Financial Services Group Inc has a 12-month low of $77.40 and a 12-month high of $131.83.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.13. The company earned $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. PNC Financial Services Group had a return on equity of 8.96% and a net margin of 23.90%. PNC Financial Services Group’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. On average, analysts predict that PNC Financial Services Group Inc will post $8.20 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 5th. Shareholders of record on Monday, April 17th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, April 12th. PNC Financial Services Group’s dividend payout ratio (DPR) is 30.10%.

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A number of equities analysts recently weighed in on PNC shares. Rafferty Capital Markets downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $121.00 price target on the stock. in a report on Monday. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a report on Tuesday, April 11th. Jefferies Group LLC reissued a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group in a report on Wednesday, April 5th. Piper Jaffray Companies lowered their price objective on PNC Financial Services Group from $136.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Instinet boosted their price objective on PNC Financial Services Group from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $112.02.

In other PNC Financial Services Group news, Director Charles E. Bunch purchased 1,000 shares of the firm’s stock in a transaction on Thursday, February 9th. The stock was bought at an average cost of $122.79 per share, with a total value of $122,790.00. Following the acquisition, the director now directly owns 2,781 shares of the company’s stock, valued at $341,478.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karen L. Larrimer sold 2,000 shares of PNC Financial Services Group stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $128.40, for a total value of $256,800.00. Following the sale, the insider now directly owns 23,820 shares of the company’s stock, valued at $3,058,488. The disclosure for this sale can be found here. Insiders have sold a total of 175,942 shares of company stock valued at $22,367,208 over the last ninety days. 0.57% of the stock is owned by company insiders.

About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its products and services nationally, as well as other products and services.

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