Chartwell Investment Partners LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 24.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,587 shares of the financial services provider’s stock after selling 26,914 shares during the period. Chartwell Investment Partners LLC’s holdings in The PNC Financial Services Group were worth $10,016,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. Comerica Bank acquired a new stake in shares of The PNC Financial Services Group during the second quarter valued at $5,594,000. EA Series Trust acquired a new stake in shares of The PNC Financial Services Group during the second quarter valued at $440,000. Gradient Investments LLC boosted its stake in shares of The PNC Financial Services Group by 59.9% during the third quarter. Gradient Investments LLC now owns 635 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 238 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of The PNC Financial Services Group by 1.0% during the second quarter. Handelsbanken Fonder AB now owns 109,318 shares of the financial services provider’s stock valued at $13,769,000 after acquiring an additional 1,098 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in The PNC Financial Services Group by 2.1% during the second 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.
Insider Activity at The PNC Financial Services Group
In related news, EVP Guild Deborah sold 1,533 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $132.51, for a total transaction of $203,137.83. Following the completion of the transaction, the executive vice president now owns 17,092 shares in the company, valued at approximately $2,264,860.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, October 24th. Stephens reiterated an “equal weight” rating and set a $138.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, January 3rd. Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $112.00 to $127.00 in a report on Tuesday, October 10th. Finally, StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $146.59.
Get Our Latest Stock Analysis on PNC
The PNC Financial Services Group Stock Performance
Shares of PNC traded down $0.76 during mid-day trading on Wednesday, hitting $153.49. The stock had a trading volume of 625,011 shares, compared to its average volume of 2,035,537. The company has a market cap of $61.14 billion, a PE ratio of 12.07, a PEG ratio of 1.79 and a beta of 1.18. The company’s fifty day simple moving average is $147.16 and its two-hundred day simple moving average is $131.64. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $167.12.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping the consensus estimate of $2.12 by $1.04. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.49 EPS. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.27 earnings per share for the current year.
The PNC Financial Services Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Tuesday, January 16th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.04%. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.
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.
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