Taylor Financial Group Inc. purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,344 shares of the financial services provider’s stock, valued at approximately $208,000.
Several other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC increased its position 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 worth $28,000 after acquiring an additional 140 shares during the period. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $28,000. Finally, Core Wealth Advisors Inc. acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.
Analyst Ratings Changes
Several equities 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 note on Wednesday, May 29th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Evercore ISI decreased their target price on shares of 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, April 17th. Bank of America increased their price target 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. Finally, Jefferies Financial Group cut their price target 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $157.83.
Check Out Our Latest Stock Analysis on PNC
Insider Buying and Selling
In related news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is currently owned by insiders.
The PNC Financial Services Group Stock Performance
Shares of PNC stock opened at $151.09 on Friday. The company’s fifty day simple moving average is $155.01 and its 200-day simple moving average is $151.72. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. 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 company has a market cap of $60.12 billion, a PE ratio of 12.69, a P/E/G ratio of 2.93 and a beta of 1.16.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued 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 business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The company also recently declared 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 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.
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.
Further Reading
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Source: defenseworld.net
