O Shaughnessy Asset Management LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 169.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,153 shares of the financial services provider’s stock after buying an additional 79,417 shares during the period. O Shaughnessy Asset Management LLC’s holdings in The PNC Financial Services Group were worth $15,488,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in PNC. Capital International Investors increased its position in 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 worth $1,086,142,000 after buying an additional 7,417,830 shares during the period. Norges Bank acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $735,469,000. Moneta Group Investment Advisors LLC increased its position in The PNC Financial Services Group by 122,771.6% in the fourth 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 period. Morgan Stanley increased its position in The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after buying an additional 1,045,055 shares during the period. Finally, FMR LLC increased its holdings in shares of The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares during the period. 80.14% of the stock is owned by institutional investors and hedge funds.
The PNC Financial Services Group Trading Down 0.1 %
NYSE:PNC opened at $145.96 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $161.15. The firm has a market capitalization of $58.06 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The stock has a fifty day simple moving average of $150.69 and a 200 day simple moving average of $133.51.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the company posted $3.49 EPS. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.28 earnings per share for the current year.
The PNC Financial Services Group Announces Dividend
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.25%. The PNC Financial Services Group’s payout ratio is presently 48.48%.
Insiders Place Their Bets
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,533 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was 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 approximately $2,264,860.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Guild Deborah sold 1,533 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was 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 of the company’s stock, valued at approximately $2,264,860.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was 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 $5,442,347.40. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a report on Wednesday, January 3rd. UBS Group raised their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Stephens reissued an “equal weight” rating and set a $138.00 price target on shares of The PNC Financial Services Group in a report on Tuesday, December 5th. StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. Finally, Piper Sandler raised 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. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $146.59.
Check Out Our Latest Research 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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