Principal Securities Inc. bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,343 shares of the financial services provider’s stock, valued at approximately $518,000.
Other large investors have also recently bought and sold shares of the company. Rockline Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at about $1,825,000. KPP Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the third quarter worth about $323,000. AQR Capital Management LLC raised its position in shares of The PNC Financial Services Group by 144.2% during the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after acquiring an additional 67,490 shares during the last quarter. Trust Point Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $295,000. 83.53% of the stock is currently owned by institutional investors.
Insider Activity at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
PNC has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective 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. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Bank of America lifted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $157.02.
View Our Latest Report on The PNC Financial Services Group
The PNC Financial Services Group Trading Up 0.9 %
NYSE PNC opened at $159.40 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $154.73 and a 200 day simple moving average of $146.68. 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 capitalization of $63.43 billion, a P/E ratio of 13.38, a PEG ratio of 1.79 and a beta of 1.16.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company posted $3.98 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.
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
