abrdn plc boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 17.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 504,572 shares of the financial services provider’s stock after buying an additional 73,770 shares during the period. abrdn plc owned 0.13% of The PNC Financial Services Group worth $78,133,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.42% of the company’s stock.
Wall Street Analyst Weigh In
PNC has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday. Evercore ISI decreased their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $156.63.
Check Out Our Latest Report on The PNC Financial Services Group
The PNC Financial Services Group Stock Up 3.0 %
NYSE:PNC traded up $4.41 on Friday, hitting $152.30. 2,370,097 shares of the company’s stock traded hands, compared to its average volume of 1,588,026. The company has a current ratio of 0.85, a quick 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 $162.24. The firm has a 50-day moving average price of $151.89 and a 200-day moving average price of $142.10. The company has a market cap of $60.59 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.07%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.
About The PNC Financial Services Group
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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