Pacer Advisors Inc. trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,640 shares of the financial services provider’s stock after selling 323 shares during the quarter. Pacer Advisors Inc.’s holdings in The PNC Financial Services Group were worth $3,991,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Citizens National Bank Trust Department acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Retirement Planning Co of New England Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Guardian Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Kozak & Associates Inc. purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $34,000. Finally, Covestor Ltd purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $40,000. 83.54% of the stock is owned by institutional investors.
PNC stock opened at $156.61 on Thursday. The PNC Financial Services Group, Inc. has a 52-week low of $149.51 and a 52-week high of $228.14. The stock’s fifty day simple moving average is $166.11 and its 200-day simple moving average is $188.04. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $64.77 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 2.13 and a beta of 1.24.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.51. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter last year, the firm earned $4.10 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 14.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Wednesday, April 13th were issued a $1.50 dividend. The ex-dividend date was Tuesday, April 12th. This represents a $6.00 dividend on an annualized basis and a yield of 3.83%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 50.76%.
In other news, Director Robert A. Niblock bought 2,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the acquisition, the director now owns 6,063 shares of the company’s stock, valued at $1,012,945.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guild Deborah sold 1,257 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $170.56, for a total value of $214,393.92. Following the completion of the transaction, the executive vice president now directly owns 23,360 shares in the company, valued at $3,984,281.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the company. Morgan Stanley cut their target price on The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating for the company in a research note on Monday, March 28th. Wolfe Research dropped their price objective on The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Piper Sandler dropped their price objective on The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a research note on Friday, April 1st. Argus dropped their price objective on The PNC Financial Services Group from $245.00 to $220.00 in a research note on Monday, April 18th. Finally, Raymond James dropped their price objective on The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating for the company in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $215.29.
About The PNC Financial Services Group (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