Achmea Investment Management B.V. lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 75.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,082 shares of the financial services provider’s stock after selling 9,237 shares during the period. Achmea Investment Management B.V.’s holdings in The PNC Financial Services Group were worth $378,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. MUFG Securities EMEA plc purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth $25,000. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth $25,000. Tyler Stone Wealth Management purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth $29,000. Cornerstone Planning Group LLC purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth $30,000. Finally, DHJJ Financial Advisors Ltd. purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth $29,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Insider Transactions at The PNC Financial Services Group
In other news, EVP Guild Deborah sold 1,533 shares of The PNC Financial Services Group stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $132.51, for a total transaction of $203,137.83. Following the completion of the sale, the executive vice president now directly owns 17,092 shares in the company, valued at $2,264,860.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.39% of the company’s stock.
The PNC Financial Services Group Price Performance
NYSE PNC opened at $151.60 on Monday. The firm’s fifty day simple moving average is $146.17 and its two-hundred day simple moving average is $131.25. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $167.12. The firm has a market capitalization of $60.39 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.76 and a beta of 1.18.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the company earned $3.49 earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc. will post 12.27 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, January 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.09%. The PNC Financial Services Group’s payout ratio is currently 48.48%.
Analysts Set New Price Targets
Several research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price target for the company in a report on Thursday, December 14th. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Stephens reissued an “equal weight” rating and issued a $138.00 price objective on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. Finally, Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $145.53.
Check Out Our Latest Report on The PNC Financial Services Group
The PNC Financial Services Group Company 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 certificates of 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.
Further Reading
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