American Assets Investment Management LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 50.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,000 shares of the financial services provider’s stock after purchasing an additional 20,000 shares during the period. American Assets Investment Management LLC’s holdings in The PNC Financial Services Group were worth $7,366,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. MUFG Securities EMEA plc purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group in the third quarter worth about $25,000. Tyler Stone Wealth Management purchased a new stake in The PNC Financial Services Group in the second quarter worth about $29,000. Cornerstone Planning Group LLC purchased a new stake in The PNC Financial Services Group in the second quarter worth about $30,000. Finally, DHJJ Financial Advisors Ltd. purchased a new stake in The PNC Financial Services Group in the third quarter worth about $29,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.
The PNC Financial Services Group Stock Performance
The PNC Financial Services Group stock traded up $2.88 during mid-day trading on Friday, reaching $148.32. 2,825,782 shares of the stock traded hands, compared to its average volume of 2,258,284. The stock has a market capitalization of $59.08 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $167.12. The business’s 50-day moving average is $147.98 and its 200-day moving average is $131.87.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, beating the consensus estimate of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the firm earned $3.49 EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.27 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.18%. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on PNC shares. StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research note on Wednesday, January 3rd. Stephens reissued an “equal weight” rating and issued a $138.00 price target on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Finally, Bank of America upgraded The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $146.59.
Read Our Latest Stock Analysis on The PNC Financial Services Group
Insider Transactions 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 dated Thursday, November 30th. The stock was sold at an average price of $132.51, for a total value of $203,137.83. Following the completion of the sale, the executive vice president now owns 17,092 shares in the company, valued at $2,264,860.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.39% of the stock is currently owned by company insiders.
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 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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