Raleigh Capital Management Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,444 shares of the financial services provider’s stock after selling 454 shares during the quarter. The PNC Financial Services Group comprises approximately 1.0% of Raleigh Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Raleigh Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $2,237,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in PNC. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group in the fourth quarter worth $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at $28,000. Householder Group Estate & Retirement Specialist LLC raised 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 in the last quarter. Finally, Core Wealth Advisors Inc. purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $31,000. Institutional investors own 83.53% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on PNC. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Evercore ISI reduced their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, Bank of America lifted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $157.83.
Read Our Latest Stock Report on PNC
Insider Activity
In related 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 owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.42% of the company’s stock.
The PNC Financial Services Group Stock Performance
Shares of NYSE PNC opened at $151.09 on Friday. The firm’s 50-day moving average price is $155.01 and its 200-day moving average price is $151.88. 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 market cap of $60.12 billion, a PE ratio of 12.69, a PEG ratio of 2.91 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business 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 net margin of 16.05% and a return on equity of 11.64%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.98 EPS. As a group, 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. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.10%. The PNC Financial Services Group’s dividend payout ratio is currently 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.
Further Reading
Receive News & Ratings for The PNC Financial Services Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The PNC Financial Services Group and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
