Brandes Investment Partners LP increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 797,827 shares of the financial services provider's stock after purchasing an additional 13,675 shares during the period. The PNC Financial Services Group accounts for 1.3% of Brandes Investment Partners LP's portfolio, making the stock its 26th largest holding. Brandes Investment Partners LP owned 0.20% of The PNC Financial Services Group worth $166,533,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $25,000. Modus Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $29,000. Beacon Financial Strategies CORP bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $35,000. JPL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $37,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $39,000. 83.53% of the stock is currently owned by institutional investors.
Insider Transactions at The PNC Financial Services Group
In other news, Director Andrew T. Feldstein sold 45,000 shares of the business's stock in a transaction dated 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 sale, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.38% of the company's stock.
The PNC Financial Services Group Stock Performance
Shares of NYSE PNC opened at $231.51 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $92.97 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.94 and a beta of 0.92. The firm's fifty day moving average is $219.13 and its two-hundred day moving average is $215.28. 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 results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.51 EPS. As a group, analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group's payout ratio is 39.51%.
Analyst Ratings Changes
Several analysts have recently commented on PNC shares. Royal Bank Of Canada restated an "outperform" rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a "buy" rating in a report on Friday, May 8th. JPMorgan Chase & Co. lifted 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. Jefferies Financial Group assumed 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. Finally, Oppenheimer lifted their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $243.11.
Read Our Latest Report on The PNC Financial Services Group
About The PNC Financial Services Group
(
Free Report)
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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