9. INDUSTRY, INNOVATION, AND INFRASTRUCTURE

CAPROCK Group Inc. Purchases 102 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) – Defense World

Written by Amanda

CAPROCK Group Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 1.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,313 shares of the financial services provider’s stock after acquiring an additional 102 shares during the period. CAPROCK Group Inc.’s holdings in The PNC Financial Services Group were worth $1,164,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Citizens National Bank Trust Department bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Retirement Planning Co of New England Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Guardian Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Kozak & Associates Inc. bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $34,000. Finally, Covestor Ltd bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.

Shares of NYSE PNC opened at $156.61 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.74. The stock’s fifty day moving average price is $166.11 and its two-hundred day moving average price is $188.04. The PNC Financial Services Group, Inc. has a one year low of $149.51 and a one year high of $228.14. The firm has a market cap of $64.77 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 2.13 and a beta of 1.24.

The PNC Financial Services Group (NYSE:PNCGet Rating) last issued its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.51. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.72 billion. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.10 EPS. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 14.19 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 5th. Stockholders of record on Wednesday, April 13th were issued a dividend of $1.50 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.25. This represents a $6.00 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Tuesday, April 12th. The PNC Financial Services Group’s dividend payout ratio is 50.76%.

A number of brokerages have recently issued reports on PNC. Wolfe Research dropped their price objective on The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, May 26th. Raymond James dropped their price target on The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating on the stock in a research note on Monday, April 18th. Argus dropped their price target on The PNC Financial Services Group from $245.00 to $220.00 in a research note on Monday, April 18th. Morgan Stanley dropped their price target on The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a research note on Monday, March 28th. Finally, Piper Sandler dropped their price target on The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating on the stock in a research note on Friday, April 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $215.29.

In related news, EVP Guild Deborah sold 1,257 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the sale, the executive vice president now directly owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert A. Niblock acquired 2,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the purchase, the director now directly owns 6,063 shares of the company’s stock, valued at $1,012,945.41. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

The PNC Financial Services Group Company Profile (Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai