EP Wealth Advisors LLC reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 94.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,840 shares of the financial services provider’s stock after selling 44,281 shares during the period. EP Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $349,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL lifted its position in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after buying an additional 89 shares during the period. Cetera Investment Advisers boosted its stake in shares of 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 in the last quarter. Covestor Ltd grew its holdings in shares of 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 worth $62,000 after purchasing an additional 137 shares during the last quarter. West Family Investments Inc. increased its position 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 worth $215,000 after purchasing an additional 97 shares in the last quarter. Finally, Ergoteles LLC lifted its holdings in 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 purchasing an additional 12,201 shares during the last quarter. Institutional investors own 80.14% of the company’s stock.
The PNC Financial Services Group Stock Up 0.2 %
Shares of NYSE:PNC opened at $148.78 on Friday. The company has a 50 day moving average price of $149.52 and a two-hundred day moving average price of $136.29. The company has a market capitalization of $59.19 billion, a PE ratio of 11.63, a PEG ratio of 1.78 and a beta of 1.17. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $157.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter last year, the business posted $3.49 EPS. The firm’s revenue was down 7.0% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.17%. The PNC Financial Services Group’s payout ratio is 48.48%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Odeon Capital Group raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective on the stock in a research note on Thursday, December 14th. Keefe, Bruyette & Woods lifted 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. Stephens reissued an “equal weight” rating and set a $138.00 price objective on shares of The PNC Financial Services Group in a report on Tuesday, December 5th. Finally, Piper Sandler boosted 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 note on Friday, December 8th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $146.59.
View Our Latest Analysis on The PNC Financial Services Group
Insiders Place Their Bets
In other news, EVP Michael J. Hannon sold 3,000 shares of the company’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 completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.
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