Aristotle Capital Management LLC reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,760,893 shares of the financial services provider’s stock after selling 170,571 shares during the quarter. Aristotle Capital Management LLC owned about 1.45% of The PNC Financial Services Group worth $707,265,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. 1832 Asset Management L.P. lifted its position in shares of The PNC Financial Services Group by 33.5% in the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 67 shares in the last quarter. KCM Investment Advisors LLC grew its position in The PNC Financial Services Group by 7.1% in the first quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 79 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in shares of The PNC Financial Services Group by 2.3% during the 4th 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. Azimuth Capital Investment Management LLC raised its holdings in shares of The PNC Financial Services Group by 3.1% during the 3rd quarter. Azimuth Capital Investment Management LLC now owns 2,870 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 85 shares in the last quarter. Finally, Holderness Investments Co. lifted its stake in shares of The PNC Financial Services Group by 3.2% in the 2nd quarter. Holderness Investments Co. now owns 2,830 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 87 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PNC has been the topic of several recent research reports. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, November 17th. UBS Group boosted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. 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 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $146.59.
View Our Latest Analysis on PNC
The PNC Financial Services Group Price Performance
Shares of PNC stock traded up $1.25 during trading hours on Thursday, reaching $146.94. The company’s stock had a trading volume of 1,092,666 shares, compared to its average volume of 2,123,236. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $157.69. The firm’s 50 day simple moving average is $150.31 and its 200-day simple moving average is $133.83. 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 company has a market capitalization of $58.45 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.70 and a beta of 1.19.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $1.04. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.49 earnings per share. 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 Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Friday, January 12th. The PNC Financial Services Group’s payout ratio is currently 48.48%.
Insider Activity
In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.
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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