Aspect Partners LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,548 shares of the financial services provider’s stock, valued at approximately $240,000.
Several other hedge funds also recently modified their holdings of PNC. BKM Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group in the fourth quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC lifted its position in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth $28,000. Finally, Core Wealth Advisors Inc. bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $31,000. 83.53% of the stock is owned by institutional investors.
Insider Buying and Selling
In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.
The PNC Financial Services Group Stock Performance
Shares of The PNC Financial Services Group stock opened at $151.75 on Friday. The firm has a 50 day simple moving average of $155.14 and a 200 day simple moving average of $151.57. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. 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 has a market cap of $60.38 billion, a P/E ratio of 12.74, a P/E/G ratio of 2.94 and a beta of 1.16.
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, topping analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 earnings per share. Sell-side analysts predict 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 paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.
Analysts Set New Price Targets
A number of research firms recently weighed in on PNC. Jefferies Financial Group lowered their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods reissued 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. 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 note on Monday, April 1st. JPMorgan Chase & Co. dropped their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $157.83.
Read Our Latest Research Report on PNC
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
