Massachusetts Financial Services Co. MA raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,538,310 shares of the financial services provider's stock after purchasing an additional 726,115 shares during the period. Massachusetts Financial Services Co. MA owned about 1.90% of The PNC Financial Services Group worth $1,453,763,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after purchasing an additional 22,271 shares during the last quarter. Kestra Investment Management LLC purchased a new position in The PNC Financial Services Group in the 3rd quarter valued at about $231,000. Benjamin Edwards Inc. boosted its stake in shares of The PNC Financial Services Group by 956.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 19,043 shares of the financial services provider's stock worth $3,522,000 after purchasing an additional 17,240 shares during the last quarter. Ascent Group LLC grew its holdings in shares of The PNC Financial Services Group by 5.4% during the third quarter. Ascent Group LLC now owns 8,003 shares of the financial services provider's stock worth $1,479,000 after buying an additional 409 shares in the last quarter. Finally, Hilltop Holdings Inc. raised its position in shares of The PNC Financial Services Group by 63.6% in the third quarter. Hilltop Holdings Inc. now owns 5,904 shares of the financial services provider's stock valued at $1,091,000 after buying an additional 2,295 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.
The PNC Financial Services Group Stock Down 5.2 %
Shares of PNC stock traded down $8.44 during trading hours on Friday, reaching $152.85. The company had a trading volume of 4,147,372 shares, compared to its average volume of 1,905,861. The company has a market capitalization of $60.49 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. 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 PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock's fifty day simple moving average is $184.93 and its 200 day simple moving average is $191.73.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.16 earnings per share. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.19%. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Stephens restated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Barclays lifted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Finally, Wells Fargo & Company cut their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $205.18.
View Our Latest Analysis on PNC
Insider Buying and Selling
In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $174.78, for a total transaction of $217,076.76. Following the sale, the chief executive officer now directly owns 564,815 shares in the company, valued at $98,718,365.70. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 12,420 shares of company stock worth $2,320,739. 0.41% 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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
