Wealth Enhancement Advisory Services LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,244 shares of the financial services provider’s stock after purchasing an additional 442 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $1,873,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of The PNC Financial Services Group by 1.6% in the 4th quarter. BlackRock Inc. now owns 29,974,459 shares of the financial services provider’s stock valued at $6,010,476,000 after acquiring an additional 486,126 shares in the last quarter. State Street Corp grew its holdings in shares of The PNC Financial Services Group by 2.8% in the 4th quarter. State Street Corp now owns 19,704,923 shares of the financial services provider’s stock valued at $3,951,231,000 after acquiring an additional 536,564 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of The PNC Financial Services Group by 10.7% in the 4th quarter. Capital Research Global Investors now owns 16,957,554 shares of the financial services provider’s stock valued at $3,400,329,000 after acquiring an additional 1,639,724 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 6,874,797 shares of the financial services provider’s stock valued at $1,374,503,000 after acquiring an additional 139,102 shares in the last quarter. Finally, Norges Bank bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $809,193,000. Institutional investors own 83.54% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Raymond James cut their target price on shares of 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. Wolfe Research cut their target price on shares of 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. StockNews.com assumed coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Argus cut their target price on shares of The PNC Financial Services Group from $245.00 to $220.00 in a research note on Monday, April 18th. Finally, Piper Sandler cut their target price on shares of 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $215.29.
NYSE PNC opened at $159.75 on Wednesday. The firm’s fifty day moving average price is $164.83 and its two-hundred day moving average price is $186.79. The stock has a market cap of $66.07 billion, a PE ratio of 13.52, a PEG ratio of 2.25 and a beta of 1.24. The PNC Financial Services Group, Inc. has a fifty-two week low of $149.51 and a fifty-two week high of $228.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.75.
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 earnings per share 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 company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the firm posted $4.10 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 14.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Wednesday, April 13th were paid 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 3.76%. The PNC Financial Services Group’s payout ratio is currently 50.76%.
In related news, EVP Guild Deborah sold 1,257 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert A. Niblock bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the acquisition, the director now owns 6,063 shares of the company’s stock, valued at $1,012,945.41. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.
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
