PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 59,452 shares of the financial services provider’s stock, valued at approximately $12,409,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new position in The PNC Financial Services Group during the 3rd quarter worth about $25,000. Beacon Financial Strategies CORP bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $35,000. JPL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $37,000. Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $39,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of The PNC Financial Services Group by 2,100.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock valued at $39,000 after buying an additional 168 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on PNC. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. Barclays raised their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Bank of America raised their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $243.11.
The PNC Financial Services Group Stock Performance
Shares of The PNC Financial Services Group stock opened at $228.76 on Friday. The firm has a market capitalization of $91.86 billion, a P/E ratio of 13.29, a PEG ratio of 0.94 and a beta of 0.92. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average price of $218.12 and a 200 day moving average price of $214.36. The PNC Financial Services Group, Inc has a 52 week low of $172.73 and a 52 week high of $243.94.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $3.51 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.
Insider Activity at The PNC Financial Services Group
In related news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by 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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