Steward Partners Investment Advisory LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,364 shares of the financial services provider’s stock after acquiring an additional 645 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in The PNC Financial Services Group were worth $1,140,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Rockline Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $1,825,000. KPP Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth approximately $323,000. AQR Capital Management LLC grew its position in shares of The PNC Financial Services Group by 144.2% during the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after buying an additional 67,490 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $295,000. Institutional investors and hedge funds own 83.53% of the company’s stock.
The PNC Financial Services Group Stock Performance
PNC stock opened at $155.04 on Tuesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $61.69 billion, a P/E ratio of 13.02, a PEG ratio of 3.04 and a beta of 1.16. The company has a 50-day simple moving average of $156.00 and a 200 day simple moving average of $150.51.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the company earned $3.98 EPS. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.63 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 issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.00%. The PNC Financial Services Group’s payout ratio is presently 52.06%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on PNC shares. Jefferies Financial Group decreased their price target on shares of 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. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $157.02.
View Our Latest Stock Report on The PNC Financial Services Group
Insiders Place Their Bets
In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.42% 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 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.
See Also
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Source: defenseworld.net
