rhino investment partners Inc reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 29.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,078 shares of the financial services provider’s stock after selling 48,314 shares during the quarter. The PNC Financial Services Group comprises about 3.4% of rhino investment partners Inc’s holdings, making the stock its 10th biggest holding. rhino investment partners Inc’s holdings in The PNC Financial Services Group were worth $18,284,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $28,000. Householder Group Estate & Retirement Specialist LLC lifted its position in 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 last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on shares of 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. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Jefferies Financial Group lowered their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Finally, Bank of America boosted their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $157.02.
Get Our Latest Stock Analysis on The PNC Financial Services Group
Insider Activity
In related 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 owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.
The PNC Financial Services Group Trading Up 2.3 %
The PNC Financial Services Group stock traded up $3.47 during mid-day trading on Friday, reaching $157.39. 2,894,495 shares of the company traded hands, compared to its average volume of 1,323,504. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The firm has a market capitalization of $62.63 billion, a price-to-earnings ratio of 13.21, 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 firm’s 50 day moving average price is $155.99 and its 200 day moving average price is $150.18.
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 analysts’ consensus estimates 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 firm 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 company’s quarterly revenue was down 8.2% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) 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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