Epoch Investment Partners Inc. decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 465,228 shares of the financial services provider’s stock after selling 33,916 shares during the period. Epoch Investment Partners Inc. owned about 0.12% of The PNC Financial Services Group worth $57,116,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. bought a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $29,000. Tyler Stone Wealth Management bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $29,000. Roffman Miller Associates Inc. PA bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 80.14% of the company’s stock.
The PNC Financial Services Group Trading Up 0.5 %
Shares of PNC stock traded up $0.73 on Friday, hitting $146.12. The stock had a trading volume of 1,837,940 shares, compared to its average volume of 2,084,065. The firm has a market cap of $58.13 billion, a P/E ratio of 11.42, a PEG ratio of 1.69 and a beta of 1.19. 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 PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $161.15. The company has a fifty day moving average price of $150.69 and a two-hundred day moving average price of $133.44.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.49 EPS. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 12.28 earnings per share for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $6.20 annualized dividend and a yield of 4.24%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.
Analyst Upgrades and Downgrades
PNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a research report on Wednesday, January 3rd. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report 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 target price for the company in a report on Thursday, December 14th. Stephens reaffirmed an “equal weight” rating and set a $138.00 target price on shares of The PNC Financial Services Group in a report on Tuesday, December 5th. Finally, Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, December 8th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $146.59.
Check Out Our Latest Report on PNC
Insiders Place Their Bets
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,533 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $132.51, for a total transaction of $203,137.83. Following the sale, the executive vice president now directly owns 17,092 shares of the company’s stock, valued at approximately $2,264,860.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Guild Deborah sold 1,533 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 17,092 shares in the company, valued at $2,264,860.92. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.
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.
See Also
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