Great West Life Assurance Co. Can trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 43.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,728 shares of the financial services provider’s stock after selling 239,607 shares during the period. Great West Life Assurance Co. Can owned about 0.08% of The PNC Financial Services Group worth $39,320,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of PNC. 1832 Asset Management L.P. boosted its stake in shares of The PNC Financial Services Group by 33.5% during the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 67 shares during the last quarter. Nilsine Partners LLC boosted its position in The PNC Financial Services Group by 1.7% during the second quarter. Nilsine Partners LLC now owns 4,701 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 78 shares during the last quarter. KCM Investment Advisors LLC raised its holdings in The PNC Financial Services Group by 7.1% in the 1st quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 79 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in shares of The PNC Financial Services Group by 2.3% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 3,645 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 82 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of The PNC Financial Services Group by 1.2% during the second quarter. Private Trust Co. NA now owns 7,437 shares of the financial services provider’s stock worth $937,000 after purchasing an additional 89 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on PNC shares. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday. Morgan Stanley cut their price objective on shares of The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a report on Tuesday, October 3rd. Bank of America upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 10th. Jefferies Financial Group lifted their price target on shares of The PNC Financial Services Group from $112.00 to $127.00 in a report on Tuesday, October 10th. Finally, Stephens lowered their price objective on shares of The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating for the company in a research note on Monday, October 16th. Four analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $150.99.
View Our Latest Analysis on PNC
The PNC Financial Services Group Price Performance
PNC stock opened at $130.34 on Tuesday. The firm has a market cap of $51.92 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.82 and a current ratio of 0.82. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $170.27. The stock has a 50-day simple moving average of $120.50 and a 200-day simple moving average of $123.00.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.32 billion. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.78 earnings per share. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.86 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th were given a $1.55 dividend. The ex-dividend date was Monday, October 16th. This represents a $6.20 dividend on an annualized basis and a yield of 4.76%. The PNC Financial Services Group’s payout ratio is currently 43.03%.
About The PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
Further Reading
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