Machina Capital S.A.S. grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 203.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,416 shares of the financial services provider’s stock after acquiring an additional 7,656 shares during the period. Machina Capital S.A.S.’s holdings in The PNC Financial Services Group were worth $2,537,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Silver Grove Financial Group Inc. grew its position in shares of The PNC Financial Services Group by 15.5% during the third quarter. Silver Grove Financial Group Inc. now owns 663 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 89 shares in the last quarter. Davis Investment Partners LLC raised its stake in The PNC Financial Services Group by 16.7% during the 3rd quarter. Davis Investment Partners LLC now owns 2,624 shares of the financial services provider’s stock valued at $583,000 after purchasing an additional 376 shares during the period. Illinois Municipal Retirement Fund raised its stake in The PNC Financial Services Group by 9.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 60,598 shares of the financial services provider’s stock valued at $13,469,000 after purchasing an additional 5,128 shares during the period. Bahl & Gaynor LLC purchased a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $410,083,000. Finally, Northbridge Financial Group LLC purchased a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $204,000. Institutional investors own 83.53% of the company’s stock.
The PNC Financial Services Group Stock Performance
Shares of NYSE:PNC opened at $232.26 on Thursday. The firm has a fifty day simple moving average of $228.09 and a two-hundred day simple moving average of $229.34. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.28. The PNC Financial Services Group, Inc has a 52 week low of $177.08 and a 52 week high of $258.96. The stock has a market capitalization of $92.15 billion, a P/E ratio of 12.36, a PEG ratio of 1.20 and a beta of 0.92.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The business had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $4.35 earnings per share. On average, analysts expect that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Wednesday, October 14th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.
Analysts Set New Price Targets
Several research firms have weighed in on PNC. Truist Financial dropped their price target on The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research note on Monday, October 19th. HSBC increased their price objective on shares of The PNC Financial Services Group from $275.00 to $283.00 and gave the company a “buy” rating in a report on Monday, September 28th. DA Davidson lifted their price objective on shares of The PNC Financial Services Group from $247.00 to $281.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Jefferies Financial Group lowered their target price on shares of The PNC Financial Services Group from $305.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Finally, UBS Group lowered their target price on shares of The PNC Financial Services Group from $286.00 to $278.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $266.04.
Check Out Our Latest Report on PNC
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.
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