Trust Point Inc. acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,963 shares of the financial services provider’s stock, valued at approximately $459,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rockline Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $1,825,000. KPP Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $323,000. AQR Capital Management LLC lifted its stake in shares of The PNC Financial Services Group by 144.2% in the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after purchasing an additional 67,490 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $295,000. Finally, Comerica Bank acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $5,594,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.42% of the company’s stock.
The PNC Financial Services Group Price Performance
The PNC Financial Services Group stock opened at $157.38 on Friday. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The firm has a market capitalization of $62.61 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.81 and a beta of 1.18. The company has a fifty day simple moving average of $151.21 and a 200-day simple moving average of $139.84. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.04. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 EPS. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.41 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.94%. The PNC Financial Services Group’s payout ratio is 48.48%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. UBS Group boosted their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, Wells Fargo & Company boosted 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 report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $154.62.
View Our Latest Analysis on PNC
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 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.
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