Manning & Napier Advisors LLC lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 24.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,807 shares of the financial services provider's stock after selling 20,693 shares during the quarter. Manning & Napier Advisors LLC's holdings in The PNC Financial Services Group were worth $11,215,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Mechanics Financial Corp acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at about $541,000. AssuredPartners Investment Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $739,000. Premier Fund Managers Ltd boosted its stake in shares of The PNC Financial Services Group by 38.3% in the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock valued at $9,511,000 after purchasing an additional 13,700 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock valued at $30,202,000 after buying an additional 3,100 shares in the last quarter. Finally, PKS Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $357,000. 83.53% of the stock is owned by institutional investors and hedge funds.
The PNC Financial Services Group Stock Up 1.3%
Shares of NYSE PNC opened at $177.61 on Friday. The company has a market capitalization of $70.26 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The company's 50 day moving average price is $169.10 and its 200-day moving average price is $180.97.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.
The PNC Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is 45.20%.
Insider Activity
In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $155.27, for a total value of $99,528.07. Following the transaction, the chief executive officer now directly owns 564,174 shares of the company's stock, valued at approximately $87,599,296.98. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff purchased 1,000 shares of the company's stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, the director now owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 12,670 shares of company stock valued at $2,099,398 in the last ninety days. 0.41% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
PNC has been the topic of a number of research analyst reports. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a "buy" rating and a $233.00 target price on the stock. Barclays cut their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Royal Bank Of Canada cut their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Finally, Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $202.67.
Get Our Latest Research Report on PNC
The PNC Financial Services Group Company Profile
(
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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