3Chopt Investment Partners LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,929 shares of the financial services provider's stock, valued at approximately $339,000.
A number of other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $33,000. Opal Wealth Advisors LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at approximately $35,000. REAP Financial Group LLC increased its stake in The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Hoey Investments Inc. purchased a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $39,000. 83.53% of the stock is owned by institutional investors and hedge funds.
The PNC Financial Services Group Price Performance
Shares of NYSE:PNC traded up $5.93 during trading on Tuesday, hitting $192.35. 3,497,382 shares of the stock were exchanged, compared to its average volume of 2,099,799. The company has a market cap of $76.09 billion, a PE ratio of 13.58, a P/E/G ratio of 1.57 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The company has a fifty day moving average price of $172.87 and a two-hundred day moving average price of $179.93. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. On average, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on PNC shares. Keefe, Bruyette & Woods lowered their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. TD Cowen started coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Wells Fargo & Company reduced their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $202.67.
View Our Latest Stock Report on PNC
Insider Activity at The PNC Financial Services Group
In related news, Director Martin Pfinsgraff acquired 1,000 shares of the company's stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director directly owned 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $166.79, for a total transaction of $207,153.18. Following the completion of the sale, the chief executive officer directly owned 557,363 shares in the company, valued at $92,962,574.77. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,428 shares of company stock valued at $1,882,322. Company insiders own 0.41% of the company's stock.
The PNC Financial Services Group Company Profile
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Free Report)
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.
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