Schmidt P J Investment Management Inc. lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 63.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,226 shares of the financial services provider’s stock after selling 19,479 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $1,298,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Argent Trust Co lifted its holdings in The PNC Financial Services Group by 28.6% in the first quarter. Argent Trust Co now owns 8,334 shares of the financial services provider’s stock valued at $1,059,000 after acquiring an additional 1,853 shares during the period. Comerica Bank purchased a new stake in The PNC Financial Services Group during the second quarter valued at approximately $5,594,000. EA Series Trust purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $440,000. Border to Coast Pensions Partnership Ltd grew its position in shares of The PNC Financial Services Group by 20.2% during the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 106,703 shares of the financial services provider’s stock valued at $13,562,000 after acquiring an additional 17,938 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of The PNC Financial Services Group by 1.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 109,318 shares of the financial services provider’s stock worth $13,769,000 after purchasing an additional 1,098 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.
The PNC Financial Services Group Trading Down 0.5 %
Shares of PNC traded down $0.78 during midday trading on Friday, hitting $154.85. The stock had a trading volume of 1,572,627 shares, compared to its average volume of 2,214,702. The stock’s 50 day moving average is $133.03 and its 200 day moving average is $127.63. The firm has a market cap of $61.68 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.40 and a beta of 1.17. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.82 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $169.07.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.50. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the business earned $3.78 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.74 EPS 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. Shareholders of record on Tuesday, October 17th were given a $1.55 dividend. The ex-dividend date of this dividend was Monday, October 16th. This represents a $6.20 annualized dividend and a yield of 4.00%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.03%.
Analyst Upgrades and Downgrades
PNC has been the topic of several recent research reports. Bank of America raised The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. Stephens restated an “equal weight” rating and set a $138.00 price objective on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Jefferies Financial Group upped their target price on shares of The PNC Financial Services Group from $112.00 to $127.00 in a report on Tuesday, October 10th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of The PNC Financial Services Group in a report on Tuesday, October 24th. Finally, HSBC began coverage on 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. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $149.10.
Get Our Latest Stock Analysis on The PNC Financial Services Group
Insider Transactions at The PNC Financial Services Group
In related news, EVP Guild Deborah sold 1,533 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $132.51, for a total value of $203,137.83. Following the completion of the sale, the executive vice president now owns 17,092 shares in the company, valued at $2,264,860.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.
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.
Recommended Stories
NYSE: PNC” width=”650″ height=”350″ loading=”lazy”>
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.
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Source: marketbeat.com
