Master S Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,067 shares of the financial services provider's stock, valued at approximately $399,000. The PNC Financial Services Group makes up 0.2% of Master S Wealth Management Inc.'s holdings, making the stock its 23rd biggest holding.
Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $1,352,151,000. Schroder Investment Management Group raised its stake in The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after purchasing an additional 860,554 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after buying an additional 710,311 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after buying an additional 549,278 shares during the last quarter. Institutional investors own 83.53% of the company's stock.
Insider Buying and Selling
In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares of the company's stock, valued at $105,620,058.57. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 11,819 shares of company stock worth $2,127,508 in the last 90 days. 0.41% of the stock is owned by corporate insiders.
The PNC Financial Services Group Stock Up 0.3 %
NYSE:PNC traded up $0.51 during mid-day trading on Friday, reaching $152.05. The company's stock had a trading volume of 3,564,375 shares, compared to its average volume of 1,989,650. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a fifty day moving average of $173.63 and a 200-day moving average of $189.09. The firm has a market capitalization of $60.17 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Equities research 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 company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.
Analyst Ratings Changes
PNC has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday. Citigroup lowered their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Royal Bank of Canada dropped their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Finally, HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their target price for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Hold" and an average price target of $200.88.
Read Our Latest Stock Analysis 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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