Venture Visionary Partners LLC lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 22.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,988 shares of the financial services provider’s stock after selling 881 shares during the quarter. Venture Visionary Partners LLC’s holdings in The PNC Financial Services Group were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in PNC. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth about $28,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. purchased a new position in shares of The PNC Financial Services Group during the third quarter worth about $29,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have 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 report on Thursday, January 18th. Odeon Capital Group raised 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 report on Thursday, December 14th. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $154.62.
View Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Price Performance
Shares of The PNC Financial Services Group stock opened at $157.37 on Monday. The company’s fifty day simple moving average is $151.21 and its two-hundred day simple moving average is $140.06. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The firm has a market cap of $62.60 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.80 and a beta of 1.18. 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 (NYSE:PNC – Get Free Report) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The company 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 PNC Financial Services Group’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $3.49 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.46 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.94%. The PNC Financial Services Group’s dividend payout ratio is presently 48.48%.
Insider Buying and Selling
In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction 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 directly owns 36,570 shares in the company, valued at approximately $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. 0.42% of the stock is currently owned by insiders.
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 time 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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Source: defenseworld.net
