Aristotle Capital Management LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,931,464 shares of the financial services provider’s stock after selling 161,049 shares during the quarter. Aristotle Capital Management LLC owned approximately 1.49% of The PNC Financial Services Group worth $747,068,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of The PNC Financial Services Group by 788.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,501,090 shares of the financial services provider’s stock worth $1,080,490,000 after acquiring an additional 7,544,029 shares during the period. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 615.1% in the second quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock valued at $1,086,142,000 after purchasing an additional 7,417,830 shares during the last quarter. Norges Bank bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $735,469,000. Moneta Group Investment Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 122,771.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after buying an additional 2,538,916 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in The PNC Financial Services Group by 98,059.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,484,169 shares of the financial services provider’s stock valued at $186,931,000 after buying an additional 1,482,657 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.
The PNC Financial Services Group Trading Up 2.1 %
NYSE PNC traded up $2.85 on Wednesday, hitting $141.51. The company’s stock had a trading volume of 526,237 shares, compared to its average volume of 2,861,102. The company’s 50-day moving average is $122.39 and its 200 day moving average is $124.31. The firm has a market cap of $56.37 billion, a PE ratio of 9.62, a PEG ratio of 1.24 and a beta of 1.17. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $169.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.50. The company had revenue of $5.23 billion for the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.78 earnings per share. As a group, 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th were given a dividend of $1.55 per share. The ex-dividend date was Monday, October 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.38%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.03%.
Insider Activity at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,533 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $132.51, for a total transaction of $203,137.83. Following the completion of the transaction, the executive vice president now owns 17,092 shares in the company, valued at approximately $2,264,860.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on PNC. Morgan Stanley reduced their price objective on The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating for the company in a report on Tuesday, October 3rd. Bank of America upgraded The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 10th. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. HSBC began coverage on shares of The PNC Financial Services Group in a research note on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price objective for the company. Finally, Jefferies Financial Group increased their target price on shares of The PNC Financial Services Group from $112.00 to $127.00 in a research report on Tuesday, October 10th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $148.65.
View Our Latest Stock Report on The PNC Financial Services Group
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider The PNC Financial Services Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and The PNC Financial Services Group wasn’t on the list.
While The PNC Financial Services Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2024 and why they should be in your portfolio.
Source: marketbeat.com
