Janney Montgomery Scott LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 589,368 shares of the financial services provider’s stock after purchasing an additional 8,860 shares during the quarter. Janney Montgomery Scott LLC’s holdings in The PNC Financial Services Group were worth $123,019,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. US Bancorp DE lifted its stake in The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock valued at $57,714,000 after buying an additional 34,009 shares during the period. Truist Financial Corp lifted its stake in The PNC Financial Services Group by 3.3% in the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after buying an additional 39,589 shares during the period. Vanguard Group Inc. lifted its stake in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares during the period. Teamwork Financial Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $13,711,000. Finally, First Trust Advisors LP lifted its stake in The PNC Financial Services Group by 27.4% in the third quarter. First Trust Advisors LP now owns 1,998,954 shares of the financial services provider’s stock valued at $401,650,000 after buying an additional 430,261 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.
The PNC Financial Services Group Stock Up 0.3%
Shares of The PNC Financial Services Group stock opened at $232.81 on Thursday. The PNC Financial Services Group, Inc has a 1 year low of $172.73 and a 1 year high of $243.94. The business has a 50-day moving average of $219.76 and a two-hundred day moving average of $215.62. The company has a market capitalization of $93.49 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82.
The PNC Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is 39.51%.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Truist Financial increased their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. increased their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Bank of America increased their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.11.
View Our Latest Analysis on PNC
Insider Activity
In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is owned by corporate insiders.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.
PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.
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