9. INDUSTRY, INNOVATION, AND INFRASTRUCTURE

Cooper Financial Group Increases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) – Defense World

Written by Amanda

Cooper Financial Group Increases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)  Defense World

Cooper Financial Group boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,205 shares of the financial services provider’s stock after buying an additional 130 shares during the period. Cooper Financial Group’s holdings in The PNC Financial Services Group were worth $407,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Manchester Capital Management LLC raised its holdings in The PNC Financial Services Group by 1.5% during the fourth quarter. Manchester Capital Management LLC now owns 3,652 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 53 shares during the last quarter. Cetera Investment Advisers raised its holdings in The PNC Financial Services Group by 0.4% during the fourth quarter. Cetera Investment Advisers now owns 14,417 shares of the financial services provider’s stock worth $2,891,000 after purchasing an additional 53 shares during the last quarter. Canal Capital Management LLC raised its holdings in The PNC Financial Services Group by 0.6% during the fourth quarter. Canal Capital Management LLC now owns 9,922 shares of the financial services provider’s stock worth $1,990,000 after purchasing an additional 55 shares during the last quarter. Morningstar Investment Services LLC raised its holdings in shares of The PNC Financial Services Group by 5.0% in the fourth quarter. Morningstar Investment Services LLC now owns 1,164 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 55 shares during the last quarter. Finally, Gofen & Glossberg LLC IL lifted its position in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. Gofen & Glossberg LLC IL now owns 16,301 shares of the financial services provider’s stock valued at $3,269,000 after acquiring an additional 58 shares in the last quarter. 83.54% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on PNC. 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. Piper Sandler lowered their price target on shares of The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a report on Friday, April 1st. Wells Fargo & Company lowered their price target on shares of The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Argus lowered their price target on shares of The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Finally, Raymond James lowered their price target on shares of The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating for the company in a report on Monday, April 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $214.40.

The PNC Financial Services Group stock opened at $160.03 on Thursday. The PNC Financial Services Group, Inc. has a 1 year low of $149.51 and a 1 year high of $228.14. The firm has a 50 day moving average price of $163.15 and a 200 day moving average price of $185.26. The company has a market cap of $66.19 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 2.23 and a beta of 1.24. 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:PNCGet 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 firm had revenue of $4.69 billion for 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 was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.10 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 14.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Wednesday, July 13th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, July 12th. This represents a $6.00 dividend on an annualized basis and a yield of 3.75%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 50.76%.

In other 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 transaction of $214,393.92. Following the transaction, the executive vice president now directly owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert A. Niblock bought 2,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 6th. The shares were purchased at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the transaction, the director now owns 6,063 shares of the company’s stock, valued at approximately $1,012,945.41. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

The PNC Financial Services Group Company 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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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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