Cambridge Investment Research Advisors Inc. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 62,680 shares of the financial services provider’s stock after selling 4,270 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in The PNC Financial Services Group were worth $9,706,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Steph & Co. lifted its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 67 shares during the last quarter. Bangor Savings Bank increased its position in The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 69 shares during the period. Oakworth Capital Inc. increased its position in The PNC Financial Services Group by 11.7% in the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 75 shares during the period. Caprock Group LLC increased its position in The PNC Financial Services Group by 0.9% in the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after acquiring an additional 79 shares during the period. Finally, RMR Wealth Builders increased its position in The PNC Financial Services Group by 1.2% in the 4th quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock valued at $1,016,000 after acquiring an additional 79 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.
The PNC Financial Services Group Stock Performance
PNC opened at $154.26 on Monday. The stock has a market cap of $61.38 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.97 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $155.95 and its 200 day simple moving average is $149.24. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.98 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted 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. StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Bank of America boosted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. 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, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $157.02.
Insider Buying and Selling
In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.
The PNC Financial Services Group Company 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
