Brookstone Capital Management cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 5.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,637 shares of the financial services provider’s stock after selling 350 shares during the quarter. Brookstone Capital Management’s holdings in The PNC Financial Services Group were worth $1,037,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNC. Voloridge Investment Management LLC purchased a new stake in The PNC Financial Services Group during the third quarter worth $4,783,000. Thrivent Financial for Lutherans lifted its holdings in The PNC Financial Services Group by 6.2% during the third quarter. Thrivent Financial for Lutherans now owns 19,749 shares of the financial services provider’s stock valued at $3,864,000 after purchasing an additional 1,154 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in The PNC Financial Services Group by 14.2% during the third quarter. Janus Henderson Group PLC now owns 268,940 shares of the financial services provider’s stock valued at $52,613,000 after purchasing an additional 33,446 shares in the last quarter. Cetera Advisors LLC lifted its holdings in The PNC Financial Services Group by 10.8% during the third quarter. Cetera Advisors LLC now owns 10,686 shares of the financial services provider’s stock valued at $2,091,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in The PNC Financial Services Group by 4.9% during the third quarter. Cetera Investment Advisers now owns 14,364 shares of the financial services provider’s stock valued at $2,810,000 after purchasing an additional 676 shares in the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
The PNC Financial Services Group stock opened at $162.84 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $149.51 and a 12-month high of $228.14. The stock has a market cap of $67.35 billion, a P/E ratio of 13.78, a PEG ratio of 2.17 and a beta of 1.24. The company has a 50-day moving average price of $165.48 and a 200 day moving average price of $187.46. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its quarterly earnings results on Thursday, April 14th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.51. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the business earned $4.10 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 14.19 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 5th. Shareholders of record on Wednesday, April 13th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, April 12th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.25. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.68%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 50.76%.
In other The PNC Financial Services Group news, Director Robert A. Niblock acquired 2,000 shares of the stock in a transaction dated Friday, May 6th. The stock was acquired at an average price of $167.07 per share, with a total value of $334,140.00. Following the completion of the purchase, the director now owns 6,063 shares in the company, valued at approximately $1,012,945.41. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Guild Deborah sold 1,257 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $170.56, for a total transaction of $214,393.92. Following the completion of the transaction, the executive vice president now directly owns 23,360 shares of the company’s stock, valued at approximately $3,984,281.60. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.
Several equities analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating on the stock in a report on Friday, April 1st. StockNews.com assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wolfe Research decreased their price objective on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Argus decreased their price target on shares of The PNC Financial Services Group from $245.00 to $220.00 in a research note on Monday, April 18th. Finally, Morgan Stanley decreased their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $215.29.
The PNC Financial Services Group 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
