2. ZERO HUNGER

Legal & General Group Plc Sells 96,659 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Written by Amanda

Legal & General Group Plc lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,660,281 shares of the financial services provider’s stock after selling 96,659 shares during the quarter. Legal & General Group Plc owned approximately 0.67% of The PNC Financial Services Group worth $326,603,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its position in The PNC Financial Services Group by 615.1% during 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 purchasing an additional 7,417,830 shares during the period. Norges Bank bought a new position in The PNC Financial Services Group during the fourth quarter worth about $735,469,000. Moneta Group Investment Advisors LLC boosted its position in The PNC Financial Services Group by 122,771.6% during 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 purchasing an additional 2,538,916 shares during the period. Morgan Stanley boosted its position in The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after purchasing an additional 1,045,055 shares during the period. Finally, FMR LLC boosted its position in 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 worth $1,758,880,000 after purchasing an additional 893,808 shares during the period. Institutional investors own 80.14% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of a number of research reports. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Piper Sandler increased 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 research report on Friday, December 8th. Odeon Capital Group upgraded 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 report on Thursday, December 14th. UBS Group raised their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, The Goldman Sachs Group raised their price objective 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. Four investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $146.59.

View Our Latest Report on The PNC Financial Services Group

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now 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 can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

The PNC Financial Services Group Trading Up 0.9 %

Shares of PNC opened at $155.12 on Wednesday. The firm’s 50 day simple moving average is $150.17 and its 200 day simple moving average is $134.65. The company has a market capitalization of $61.71 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.79 and a beta of 1.17. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $157.69.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping the consensus estimate of $2.12 by $1.04. The firm 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 net margin of 17.50% and a return on equity of 12.27%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm posted $3.49 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.29 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 paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.

About The PNC Financial Services Group

(Free Report)

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.

Read More

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNCFree Report).

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider The PNC Financial Services Group, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and The PNC Financial Services Group wasn’t on the list.

While The PNC Financial Services Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

Do you expect the global demand for energy to shrink?! If not, it’s time to take a look at how energy stocks can play a part in your portfolio.

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Source: marketbeat.com

Legal & General Group Plc lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,660,281 shares of the financial services provider’s stock after selling 96,659 shares during the quarter. Legal & General Group Plc owned approximately 0.67% of The PNC Financial Services Group worth $326,603,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its position in The PNC Financial Services Group by 615.1% during 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 purchasing an additional 7,417,830 shares during the period. Norges Bank bought a new position in The PNC Financial Services Group during the fourth quarter worth about $735,469,000. Moneta Group Investment Advisors LLC boosted its position in The PNC Financial Services Group by 122,771.6% during 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 purchasing an additional 2,538,916 shares during the period. Morgan Stanley boosted its position in The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after purchasing an additional 1,045,055 shares during the period. Finally, FMR LLC boosted its position in 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 worth $1,758,880,000 after purchasing an additional 893,808 shares during the period. Institutional investors own 80.14% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of a number of research reports. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Piper Sandler increased 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 research report on Friday, December 8th. Odeon Capital Group upgraded 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 report on Thursday, December 14th. UBS Group raised their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, The Goldman Sachs Group raised their price objective 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. Four investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $146.59.

View Our Latest Report on The PNC Financial Services Group

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now 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 can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

The PNC Financial Services Group Trading Up 0.9 %

Shares of PNC opened at $155.12 on Wednesday. The firm’s 50 day simple moving average is $150.17 and its 200 day simple moving average is $134.65. The company has a market capitalization of $61.71 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.79 and a beta of 1.17. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $157.69.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping the consensus estimate of $2.12 by $1.04. The firm 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 net margin of 17.50% and a return on equity of 12.27%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm posted $3.49 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.29 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 paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.

About The PNC Financial Services Group

(Free Report)

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.

Read More

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNCFree Report).

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider The PNC Financial Services Group, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and The PNC Financial Services Group wasn’t on the list.

While The PNC Financial Services Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

Do you expect the global demand for energy to shrink?! If not, it’s time to take a look at how energy stocks can play a part in your portfolio.

Get This Free Report

Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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