Steph & Co. lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 43.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,949 shares of the financial services provider’s stock after purchasing an additional 1,194 shares during the period. Steph & Co.’s holdings in The PNC Financial Services Group were worth $502,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Xponance Inc. lifted its position in The PNC Financial Services Group by 3.0% during the 1st quarter. Xponance Inc. now owns 57,958 shares of the financial services provider’s stock worth $7,366,000 after acquiring an additional 1,669 shares during the last quarter. E&G Advisors LP lifted its position in The PNC Financial Services Group by 17.9% during the 1st quarter. E&G Advisors LP now owns 3,300 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 500 shares during the last quarter. Bill Few Associates Inc. lifted its position in The PNC Financial Services Group by 6.6% during the 1st quarter. Bill Few Associates Inc. now owns 8,211 shares of the financial services provider’s stock worth $1,044,000 after acquiring an additional 511 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in The PNC Financial Services Group by 1,371.9% during the 1st quarter. Bourgeon Capital Management LLC now owns 86,546 shares of the financial services provider’s stock worth $11,000,000 after acquiring an additional 80,666 shares during the last quarter. Finally, Northwest Investment Counselors LLC lifted its position in The PNC Financial Services Group by 15.5% during the 1st quarter. Northwest Investment Counselors LLC now owns 2,610 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 79.27% of the company’s stock.
Insiders Place Their Bets
In related news, Director Bryan Scott Salesky purchased 400 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were acquired at an average cost of $127.10 per share, with a total value of $50,840.00. Following the completion of the purchase, the director now directly owns 410 shares of the company’s stock, valued at $52,111. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Bryan Scott Salesky purchased 400 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were acquired at an average cost of $127.10 per share, with a total value of $50,840.00. Following the completion of the purchase, the director now directly owns 410 shares of the company’s stock, valued at $52,111. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Alvarado purchased 1,000 shares of the firm’s stock in a transaction dated Friday, April 21st. The shares were bought at an average cost of $123.89 per share, for a total transaction of $123,890.00. Following the completion of the purchase, the director now directly owns 1,100 shares of the company’s stock, valued at $136,279. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.
The PNC Financial Services Group Price Performance
The PNC Financial Services Group stock traded down $0.09 during trading hours on Tuesday, hitting $123.64. 288,355 shares of the stock were exchanged, compared to its average volume of 3,491,282. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $49.35 billion, a P/E ratio of 8.46, a P/E/G ratio of 1.09 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $110.31 and a 12 month high of $176.34. The business’s 50-day moving average is $122.03 and its two-hundred day moving average is $139.01.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $3.98 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.38. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.61 billion. The PNC Financial Services Group had a net margin of 23.95% and a return on equity of 13.41%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.29 earnings per share. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.96 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 5th. Shareholders of record on Tuesday, April 18th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, April 17th. This represents a $6.00 annualized dividend and a yield of 4.85%. The PNC Financial Services Group’s dividend payout ratio is 41.04%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their target price on shares of The PNC Financial Services Group from $185.00 to $167.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. Keefe, Bruyette & Woods cut their price objective on shares of The PNC Financial Services Group from $125.00 to $120.00 and set an “underperform” rating for the company in a research report on Monday, April 17th. UBS Group upped their price objective on shares of The PNC Financial Services Group from $130.00 to $134.00 and gave the company a “neutral” rating in a research report on Monday, April 17th. Credit Suisse Group cut their price objective on shares of The PNC Financial Services Group from $165.00 to $145.00 in a research report on Tuesday, April 18th. Finally, Wells Fargo & Company cut their price objective on shares of The PNC Financial Services Group from $198.00 to $186.00 and set an “overweight” rating for the company in a research report on Monday, April 3rd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $162.04.
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 certificates of 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.
See Also
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating).
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