Sei Investments Co. reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,970 shares of the financial services provider’s stock after selling 8,866 shares during the period. Sei Investments Co. owned 0.07% of The PNC Financial Services Group worth $45,056,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Rockline Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $1,825,000. KPP Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $323,000. AQR Capital Management LLC increased its position in The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Trust Point Inc. acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $295,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction 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 in the company, valued at $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Evercore ISI dropped their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $157.83.
Read Our Latest Stock Analysis on PNC
The PNC Financial Services Group Stock Down 2.0 %
PNC stock opened at $152.69 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $60.76 billion, a P/E ratio of 12.82, a PEG ratio of 3.01 and a beta of 1.16. The firm has a 50 day simple moving average of $155.48 and a 200-day simple moving average of $151.41.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its quarterly 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 net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $3.98 earnings per share. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities research 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 company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.
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.
Read More
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report).
Receive News & Ratings for The PNC Financial Services Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The PNC Financial Services Group and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
