Tiaa Fsb cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,454 shares of the financial services provider’s stock after selling 634 shares during the quarter. Tiaa Fsb’s holdings in The PNC Financial Services Group were worth $3,219,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in PNC. Citizens National Bank Trust Department purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $28,000. Retirement Planning Co of New England Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $30,000. Guardian Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Covestor Ltd purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $40,000. Finally, Equitec Proprietary Markets LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $47,000. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on PNC. Piper Sandler lowered their target price on shares of 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. Morgan Stanley lowered their target price 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. Wolfe Research lowered their target price on shares of 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 lowered their target price on shares of 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. Finally, StockNews.com began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $215.29.
In other news, Director Robert A. Niblock bought 2,000 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Guild Deborah sold 1,257 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was 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 owns 23,360 shares in the company, valued at approximately $3,984,281.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
Shares of NYSE PNC opened at $162.84 on Friday. The PNC Financial Services Group, Inc. has a one year low of $149.51 and a one year high of $228.14. 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 firm’s 50 day simple moving average is $165.48 and its two-hundred day simple moving average is $187.46. The stock has a market capitalization of $67.35 billion, a P/E ratio of 13.78, a PEG ratio of 2.17 and a beta of 1.24.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its earnings results 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 net margin of 26.14% and a return on equity of 12.43%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter last year, the business earned $4.10 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts expect 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. Stockholders of record on Wednesday, April 13th were issued a $1.50 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, April 12th. This represents a $6.00 annualized dividend and a dividend yield of 3.68%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 50.76%.
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