Generali Asset Management SPA SGR purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 31,510 shares of the financial services provider's stock, valued at approximately $6,077,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Investments LLC grew its holdings in shares of The PNC Financial Services Group by 1.5% during the fourth quarter. Horizon Investments LLC now owns 12,366 shares of the financial services provider's stock worth $2,365,000 after buying an additional 177 shares during the last quarter. Mystic Asset Management Inc. lifted its position in The PNC Financial Services Group by 152.0% during the 4th quarter. Mystic Asset Management Inc. now owns 12,334 shares of the financial services provider's stock worth $2,379,000 after acquiring an additional 7,439 shares during the period. Axxcess Wealth Management LLC grew its stake in shares of The PNC Financial Services Group by 6.6% in the 4th quarter. Axxcess Wealth Management LLC now owns 20,502 shares of the financial services provider's stock valued at $3,954,000 after purchasing an additional 1,261 shares during the last quarter. Argent Advisors Inc. increased its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Argent Advisors Inc. now owns 8,536 shares of the financial services provider's stock valued at $1,646,000 after purchasing an additional 147 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 5.9% during the fourth quarter. Parallel Advisors LLC now owns 3,732 shares of the financial services provider's stock worth $720,000 after purchasing an additional 209 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.
The PNC Financial Services Group Price Performance
Shares of PNC stock traded down $0.06 during trading hours on Friday, hitting $173.35. The company's stock had a trading volume of 5,500,275 shares, compared to its average volume of 1,758,306. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock has a market cap of $68.60 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13. The business has a fifty day moving average of $190.03 and a 200-day moving average of $192.27.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the business posted $3.16 earnings per share. The PNC Financial Services Group's revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.69%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.
Analyst Ratings Changes
Several equities analysts have issued reports on PNC shares. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday. Stephens restated an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Truist Financial boosted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Finally, Citigroup raised their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $203.71.
Read Our Latest Analysis on PNC
Insider Transactions at The PNC Financial Services Group
In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the sale, the chief executive officer now owns 527,555 shares of the company's stock, valued at $101,369,693.25. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 12,420 shares of company stock worth $2,369,165 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.
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.
Further Reading
Before you consider The PNC Financial Services Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The PNC Financial Services Group wasn't on the list.
While The PNC Financial Services Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
