Clarity Financial LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 111.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,226 shares of the financial services provider’s stock after purchasing an additional 42,226 shares during the quarter. The PNC Financial Services Group makes up 1.7% of Clarity Financial LLC’s portfolio, making the stock its 24th largest holding. Clarity Financial LLC’s holdings in The PNC Financial Services Group were worth $9,849,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of PNC. State Street Corp increased its stake in The PNC Financial Services Group by 1.0% in the second quarter. State Street Corp now owns 17,127,040 shares of the financial services provider’s stock valued at $2,157,151,000 after acquiring an additional 170,387 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of The PNC Financial Services Group by 7.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after purchasing an additional 860,489 shares during the period. Capital International Investors grew its stake in shares of The PNC Financial Services Group by 615.1% in the 2nd quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock valued at $1,086,142,000 after purchasing an additional 7,417,830 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of The PNC Financial Services Group by 788.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,501,090 shares of the financial services provider’s stock worth $1,080,490,000 after buying an additional 7,544,029 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,369,554 shares of the financial services provider’s stock worth $925,399,000 after buying an additional 150,470 shares during the period. Institutional investors and hedge funds own 80.14% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on PNC. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Jefferies Financial Group increased their target price on shares of The PNC Financial Services Group from $112.00 to $127.00 in a research report on Tuesday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of The PNC Financial Services Group in a research report on Tuesday, October 24th. Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective for the company in a report on Thursday, December 14th. Finally, Stephens reiterated an “equal weight” rating and issued a $138.00 target price on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $149.10.
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,533 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $132.51, for a total transaction of $203,137.83. Following the completion of the sale, the executive vice president now owns 17,092 shares in the company, valued at approximately $2,264,860.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.
The PNC Financial Services Group Trading Up 0.1 %
Shares of PNC stock traded up $0.14 on Wednesday, reaching $154.24. 339,100 shares of the stock were exchanged, compared to its average volume of 2,837,195. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.82 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $169.07. The stock has a market cap of $61.44 billion, a PE ratio of 10.69, a P/E/G ratio of 1.36 and a beta of 1.17. The stock has a 50 day moving average price of $130.58 and a 200 day moving average price of $127.04.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.50. The firm had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.32 billion. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.78 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.87 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were issued a $1.55 dividend. The ex-dividend date was Monday, October 16th. This represents a $6.20 annualized dividend and a yield of 4.02%. The PNC Financial Services Group’s dividend payout ratio is currently 43.03%.
About The PNC Financial Services Group
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.
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