Schroder Investment Management Group increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 4.4% in the third quarter, HoldingsChannel.com reports. The firm owned 53,954 shares of the financial services provider’s stock after acquiring an additional 2,253 shares during the quarter. Schroder Investment Management Group’s holdings in The PNC Financial Services Group were worth $6,624,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at about $25,000. Tyler Stone Wealth Management purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $29,000. Cornerstone Planning Group LLC purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $30,000. DHJJ Financial Advisors Ltd. purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at about $29,000. Finally, Chilton Capital Management LLC purchased a new position in The PNC Financial Services Group during the 1st quarter valued at about $33,000. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on PNC shares. UBS Group raised their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a research note on Wednesday, January 3rd. Piper Sandler raised their price target on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Finally, 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 on the stock in a research note on Thursday, December 14th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $146.59.
The PNC Financial Services Group Stock Down 1.2 %
Shares of NYSE:PNC opened at $150.98 on Wednesday. The stock has a market capitalization of $60.06 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $157.69. The company’s fifty day moving average is $149.73 and its two-hundred day moving average is $135.77. 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 issued its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share 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 analysts’ expectations 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 period in the prior year, the company earned $3.49 earnings per share. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.28 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were given a dividend of $1.55 per share. The ex-dividend date was Friday, January 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.11%. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.
Insider Transactions at The PNC Financial Services Group
In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.39% of the company’s stock.
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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Source: defenseworld.net
