WealthPlan Investment Management LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,547 shares of the financial services provider’s stock, valued at approximately $1,540,000.
Several other hedge funds and other institutional investors have also made changes to their positions in PNC. Blair William & Co. IL raised its stake in The PNC Financial Services Group by 0.5% in the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock valued at $3,135,000 after purchasing an additional 89 shares during the last quarter. Cetera Investment Advisers raised its stake in The PNC Financial Services Group by 12.0% in the 1st quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after purchasing an additional 1,724 shares during the last quarter. Covestor Ltd raised its stake in The PNC Financial Services Group by 68.8% in the 1st quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 137 shares during the last quarter. West Family Investments Inc. increased its stake in shares of The PNC Financial Services Group by 9.1% during the 1st quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 97 shares during the last quarter. Finally, Ergoteles LLC increased its stake in shares of The PNC Financial Services Group by 137.9% during the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock valued at $3,882,000 after acquiring an additional 12,201 shares during the last quarter. Institutional investors and hedge funds own 80.14% of the company’s stock.
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 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 sale, the executive vice president now directly owns 17,092 shares of the company’s stock, valued at $2,264,860.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.39% of the company’s stock.
The PNC Financial Services Group Stock Performance
The PNC Financial Services Group stock opened at $147.77 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The stock has a market cap of $58.86 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.19. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $161.77. The stock has a 50 day moving average of $149.87 and a 200-day moving average of $132.51.
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 (EPS) for the quarter, beating the consensus estimate of $2.12 by $1.04. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates 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 business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.49 EPS. On average, analysts expect that The PNC Financial Services Group, Inc. will post 12.29 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective for the company in a research note on Thursday, December 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of The PNC Financial Services Group in a research note on Tuesday, October 24th. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, December 19th. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $146.59.
Check Out Our Latest Report on PNC
The PNC Financial Services Group 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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