International Assets Investment Management LLC trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,570 shares of the financial services provider’s stock after selling 589 shares during the quarter. International Assets Investment Management LLC’s holdings in The PNC Financial Services Group were worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in PNC. Acadian Asset Management LLC increased its holdings in The PNC Financial Services Group by 10.5% in the third quarter. Acadian Asset Management LLC now owns 23,845 shares of the financial services provider’s stock worth $2,923,000 after purchasing an additional 2,272 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in The PNC Financial Services Group by 103.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 11,666 shares of the financial services provider’s stock worth $1,432,000 after purchasing an additional 5,937 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in The PNC Financial Services Group by 5.1% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,239 shares of the financial services provider’s stock valued at $1,380,000 after acquiring an additional 550 shares during the period. Natixis Advisors L.P. grew its stake in The PNC Financial Services Group by 2.5% in the third quarter. Natixis Advisors L.P. now owns 254,300 shares of the financial services provider’s stock valued at $31,221,000 after acquiring an additional 6,161 shares during the period. Finally, Consolidated Portfolio Review Corp grew its stake in The PNC Financial Services Group by 15.9% in the third quarter. Consolidated Portfolio Review Corp now owns 1,931 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 265 shares during the period. 83.53% of the stock is currently owned by institutional investors.
The PNC Financial Services Group Stock Up 0.0 %
PNC stock opened at $153.20 on Monday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. 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 firm has a market cap of $60.96 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. The business has a 50 day moving average of $154.73 and a 200 day moving average of $152.55.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company earned $3.98 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The firm also recently announced 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 of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.05%. The PNC Financial Services Group’s dividend payout ratio is 52.06%.
Analysts Set New Price Targets
PNC has been the topic of several research analyst reports. Jefferies Financial Group cut their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Wells Fargo & Company boosted their target price on 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. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Bank of America boosted their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.83.
Get Our Latest Report on The PNC Financial Services Group
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now directly 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 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
