Wescott Financial Advisory Group LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,411 shares of the financial services provider’s stock, valued at approximately $419,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. 1832 Asset Management L.P. boosted its stake in The PNC Financial Services Group by 33.5% during the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after buying an additional 67 shares during the period. KCM Investment Advisors LLC lifted its stake in The PNC Financial Services Group by 7.1% during the first quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 79 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in The PNC Financial Services Group by 2.3% during the fourth 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 last quarter. Holderness Investments Co. lifted its stake in The PNC Financial Services Group by 3.2% during the second quarter. Holderness Investments Co. now owns 2,830 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 87 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in The PNC Financial Services Group by 0.5% during the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 80.14% of the company’s stock.
Analyst Ratings Changes
PNC has been the subject of several research analyst reports. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. Piper Sandler boosted their target price on The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, December 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of The PNC Financial Services Group in a research note on Tuesday, October 24th. Finally, Odeon Capital Group raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 target price for the company in a research note on Thursday, December 14th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $146.59.
Read Our Latest Research Report on PNC
Insider Activity
In other news, EVP Guild Deborah sold 1,533 shares of the company’s stock in a transaction 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 directly owns 17,092 shares in the company, valued at approximately $2,264,860.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.
The PNC Financial Services Group Stock Down 0.2 %
Shares of The PNC Financial Services Group stock traded down $0.32 during midday trading on Friday, hitting $147.61. The company had a trading volume of 591,088 shares, compared to its average volume of 2,290,014. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $58.80 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.72 and a beta of 1.19. The company has a 50 day moving average of $149.69 and a 200 day moving average of $132.44. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $161.77.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.12 by $1.04. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.49 EPS. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.29 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were given a $1.55 dividend. The ex-dividend date was Friday, January 12th. This represents a $6.20 annualized dividend and a yield of 4.20%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.
The PNC Financial Services Group Company Profile
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.
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