Wealthcare Advisory Partners LLC trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 4,732 shares of the financial services provider’s stock after selling 102 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in The PNC Financial Services Group were worth $873,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. IAM Advisory LLC lifted its position in shares of The PNC Financial Services Group by 10.0% during the first quarter. IAM Advisory LLC now owns 11,248 shares of the financial services provider’s stock valued at $2,075,000 after purchasing an additional 1,022 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of The PNC Financial Services Group by 17.9% during the first quarter. AdvisorNet Financial Inc now owns 5,164 shares of the financial services provider’s stock valued at $952,000 after purchasing an additional 784 shares in the last quarter. Woodward Diversified Capital LLC lifted its position in shares of The PNC Financial Services Group by 3.5% during the first quarter. Woodward Diversified Capital LLC now owns 2,440 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 83 shares in the last quarter. Bangor Savings Bank lifted its position in shares of The PNC Financial Services Group by 19.5% during the first quarter. Bangor Savings Bank now owns 7,129 shares of the financial services provider’s stock valued at $1,315,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Addenda Capital Inc. lifted its position in shares of The PNC Financial Services Group by 9.2% during the first quarter. Addenda Capital Inc. now owns 43,618 shares of the financial services provider’s stock valued at $8,045,000 after purchasing an additional 3,663 shares in the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
PNC opened at $161.45 on Tuesday. The company has a market capitalization of $66.77 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.25 and a beta of 1.24. 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 firm has a 50-day moving average price of $165.20 and a 200-day moving average price of $186.98. The PNC Financial Services Group, Inc. has a twelve month low of $149.51 and a twelve month high of $228.14.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $2.78 by $0.51. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.72 billion. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The PNC Financial Services Group’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.10 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Wednesday, April 13th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, April 12th. This represents a $6.00 annualized dividend and a yield of 3.72%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The PNC Financial Services Group’s payout ratio is currently 50.76%.
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,257 shares of the business’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 value of $214,393.92. Following the completion of the transaction, the executive vice president now owns 23,360 shares of the company’s stock, valued at approximately $3,984,281.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert A. Niblock purchased 2,000 shares of the business’s stock in a transaction on Friday, May 6th. The stock was bought at an average cost of $167.07 per share, with a total value of $334,140.00. Following the purchase, the director now owns 6,063 shares in the company, valued at $1,012,945.41. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.
A number of research analysts recently weighed in on PNC shares. Piper Sandler dropped their price target 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 report on Friday, April 1st. StockNews.com assumed coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective 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 report on Monday, March 28th. Wolfe Research lowered 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 research report on Thursday, May 26th. Finally, Raymond James lowered their price objective 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 report on Monday, April 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target 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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