Glenmede Trust Co. NA cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 3.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 520,191 shares of the financial services provider’s stock after selling 18,702 shares during the period. Glenmede Trust Co. NA owned 0.13% of The PNC Financial Services Group worth $63,864,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of PNC. OFI Invest Asset Management acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth about $25,000. Tyler Stone Wealth Management purchased a new position in The PNC Financial Services Group in the 2nd quarter valued at about $29,000. Cornerstone Planning Group LLC purchased a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $30,000. DHJJ Financial Advisors Ltd. purchased a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $29,000. Finally, Roffman Miller Associates Inc. PA acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $30,000. 80.14% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at The PNC Financial Services Group
In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company’s stock.
The PNC Financial Services Group Stock Up 0.4 %
The PNC Financial Services Group stock traded up $0.58 during midday trading on Friday, hitting $147.78. 1,019,378 shares of the stock were exchanged, compared to its average volume of 2,136,369. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $157.69. The firm has a market cap of $58.79 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.69 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 company has a 50 day moving average price of $150.21 and a two-hundred day moving average price of $133.92.
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 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the firm posted $3.49 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.28 earnings per share for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s payout ratio is currently 48.48%.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Piper Sandler lifted their target price 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. Keefe, Bruyette & Woods boosted 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. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. 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 target for the company in a report on Thursday, December 14th. Finally, The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, December 19th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $146.59.
View Our Latest Research Report on The PNC Financial Services Group
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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