Fisher Asset Management LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 3.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,779 shares of the financial services provider’s stock after selling 209 shares during the quarter. Fisher Asset Management LLC’s holdings in The PNC Financial Services Group were worth $895,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in PNC. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth about $25,000. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $26,000. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.
The PNC Financial Services Group Stock Performance
NYSE:PNC opened at $157.12 on Friday. The business has a 50 day moving average of $154.25 and a 200 day moving average of $145.47. The company has a market capitalization of $62.50 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $3.98 EPS. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.95%. The PNC Financial Services Group’s payout ratio is currently 52.06%.
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Evercore ISI reduced their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. UBS Group lifted their price target on 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. StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Jefferies Financial Group dropped their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $157.02.
Read Our Latest Stock Analysis 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 time 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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