Heritage Wealth Advisors boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 22,301.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,849 shares of the financial services provider’s stock after acquiring an additional 202,939 shares during the period. The PNC Financial Services Group accounts for about 1.4% of Heritage Wealth Advisors’ holdings, making the stock its 27th biggest position. Heritage Wealth Advisors owned 0.05% of The PNC Financial Services Group worth $25,027,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Comerica Bank purchased a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $5,594,000. EA Series Trust bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $440,000. Gradient Investments LLC lifted its holdings in shares of The PNC Financial Services Group by 59.9% in the 3rd quarter. Gradient Investments LLC now owns 635 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 238 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of The PNC Financial Services Group by 1.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 109,318 shares of the financial services provider’s stock worth $13,769,000 after acquiring an additional 1,098 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of The PNC Financial Services Group by 2.1% in 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 acquiring an additional 150,470 shares during the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Insider Buying and Selling
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,533 shares of The PNC Financial Services Group stock in a transaction that occurred 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 transaction, the executive vice president now owns 17,092 shares of the company’s stock, valued at $2,264,860.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on PNC. Piper Sandler upped their price target on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, December 8th. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, January 3rd. UBS Group increased their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $146.59.
Read Our Latest Analysis on PNC
The PNC Financial Services Group Stock Performance
Shares of PNC stock traded down $0.29 during trading hours on Thursday, reaching $147.88. The company had a trading volume of 863,500 shares, compared to its average volume of 2,327,744. The business has a fifty day moving average price of $149.41 and a 200-day moving average price of $132.33. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.70. The firm has a market cap of $58.91 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.49 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.3 earnings per share for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s payout ratio is 48.48%.
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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