Vaughan David Investments LLC IL lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 251,447 shares of the financial services provider's stock after buying an additional 13,648 shares during the quarter. Vaughan David Investments LLC IL owned about 0.06% of The PNC Financial Services Group worth $38,937,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Rockline Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $1,825,000. KPP Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the 3rd quarter worth about $323,000. AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 144.2% in the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider's stock worth $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Trust Point Inc. acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $295,000. Institutional investors and hedge funds own 83.53% of the company's stock.
Insiders Place Their Bets
In other news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company's stock.
The PNC Financial Services Group Stock Down 2.2 %
NYSE PNC traded down $3.44 on Friday, hitting $150.64. 1,486,996 shares of the company were exchanged, compared to its average volume of 2,142,569. The company has a market cap of $59.93 billion, a PE ratio of 11.81, a PEG ratio of 1.78 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The stock has a fifty day moving average of $151.75 and a 200-day moving average of $140.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. The PNC Financial Services Group's revenue was down 7.0% on a year-over-year basis. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current year.
The PNC Financial Services Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.12%. The PNC Financial Services Group's payout ratio is 48.48%.
Analysts Set New Price Targets
Several analysts have weighed in on PNC shares. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an "underweight" rating in a report on Tuesday, January 30th. UBS Group raised their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a "neutral" rating in a report on Thursday, January 18th. Jefferies Financial Group raised their target price on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the company a "hold" rating in a report on Monday. Finally, Odeon Capital Group raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and set a $153.38 target price on the stock in a report on Thursday, December 14th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $157.76.
Get Our Latest Report on The PNC Financial Services Group
The PNC Financial Services Group 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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