Sonora Investment Management Group LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,087 shares of the financial services provider's stock after purchasing an additional 1,741 shares during the period. Sonora Investment Management Group LLC's holdings in The PNC Financial Services Group were worth $13,725,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of PNC. Accurate Wealth Management LLC raised its position in shares of The PNC Financial Services Group by 4.3% in the first quarter. Accurate Wealth Management LLC now owns 8,668 shares of the financial services provider's stock valued at $1,524,000 after purchasing an additional 360 shares during the period. Fiduciary Financial Group LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $331,000. Simplicity Wealth LLC raised its holdings in The PNC Financial Services Group by 94.2% during the 1st quarter. Simplicity Wealth LLC now owns 2,711 shares of the financial services provider's stock valued at $476,000 after acquiring an additional 1,315 shares during the period. GAMMA Investing LLC lifted its position in shares of The PNC Financial Services Group by 10.3% during the first quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider's stock worth $1,149,000 after acquiring an additional 608 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 3.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 5,239 shares of the financial services provider's stock worth $921,000 after acquiring an additional 167 shares during the period. 83.53% of the stock is owned by institutional investors.
The PNC Financial Services Group Price Performance
PNC traded down $4.56 during trading on Friday, reaching $173.18. The stock had a trading volume of 1,727,076 shares, compared to its average volume of 2,058,996. The business has a 50-day moving average of $166.56 and a 200-day moving average of $182.74. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $68.50 billion, a PE ratio of 12.59, a PEG ratio of 1.55 and a beta of 1.06.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.
Insider Transactions at The PNC Financial Services Group
In other The PNC Financial Services Group news, CEO William S. Demchak sold 601 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total value of $96,160.00. Following the completion of the sale, the chief executive officer now directly owns 563,573 shares of the company's stock, valued at $90,171,680. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,912 shares of company stock worth $2,313,022. 0.41% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Truist Financial decreased their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Barclays cut their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Finally, TD Cowen assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.
Get Our Latest Stock Report on The PNC Financial Services Group
About The PNC Financial Services Group
(
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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