SageView Advisory Group LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 125.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,030 shares of the financial services provider’s stock after buying an additional 5,023 shares during the period. SageView Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Tucker Asset Management LLC grew its position in The PNC Financial Services Group by 55.6% during the 4th quarter. Tucker Asset Management LLC now owns 1,807 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 646 shares during the last quarter. Fortis Group Advisors LLC lifted its stake in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the period. EP Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 16.0% during the 4th quarter. EP Wealth Advisors LLC now owns 3,293 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 453 shares during the period. Syon Capital LLC increased its stake in shares of The PNC Financial Services Group by 16.8% in the fourth quarter. Syon Capital LLC now owns 1,948 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 280 shares during the period. Finally, Integrated Advisors Network LLC increased its stake in shares of The PNC Financial Services Group by 7.3% in the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 148 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have commented on PNC. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. lowered their price objective 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. Bank of America lifted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $157.83.
Check Out Our Latest Stock Report on The PNC Financial Services Group
Insiders Place Their Bets
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 stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.42% of the company’s stock.
The PNC Financial Services Group Stock Performance
Shares of The PNC Financial Services Group stock opened at $151.09 on Monday. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a market cap of $60.12 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 2.91 and a beta of 1.16. The business’s 50 day moving average price is $155.01 and its 200 day moving average price is $152.01. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.
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 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.98 EPS. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date of this dividend 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 payout ratio 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.
Read More
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
