Potomac Fund Management Inc. ADV bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,296 shares of the financial services provider's stock, valued at approximately $1,214,000. The PNC Financial Services Group makes up 1.1% of Potomac Fund Management Inc. ADV's holdings, making the stock its 25th biggest position.
Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after acquiring an additional 22,271 shares during the last quarter. Kestra Investment Management LLC bought a new stake in The PNC Financial Services Group during the third quarter worth about $231,000. Benjamin Edwards Inc. boosted its holdings in shares of The PNC Financial Services Group by 956.2% in 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 in the last quarter. Ascent Group LLC increased its position in shares of The PNC Financial Services Group by 5.4% during the 3rd quarter. Ascent Group LLC now owns 8,003 shares of the financial services provider's stock valued at $1,479,000 after purchasing an additional 409 shares during the last quarter. Finally, Hilltop Holdings Inc. raised its holdings in shares of The PNC Financial Services Group by 63.6% during the 3rd 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 in the last quarter. 83.53% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
PNC has been the topic of a number of recent research reports. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. 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 research report on Thursday. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price target for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Citigroup decreased their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $205.18.
Read Our Latest Report on The PNC Financial Services Group
Insider Buying and Selling
In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $198.00, for a total value of $245,916.00. Following the sale, the chief executive officer now directly owns 525,071 shares of the company's stock, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 12,420 shares of company stock valued at $2,320,739 over the last quarter. Corporate insiders own 0.41% of the company's stock.
The PNC Financial Services Group Stock Down 5.2 %
PNC traded down $8.44 on Friday, hitting $152.85. The company had a trading volume of 4,147,372 shares, compared to its average volume of 1,905,861. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The stock has a fifty day simple moving average of $184.93 and a 200-day simple moving average of $191.73. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $60.49 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.55 and a beta of 1.04.
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, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.16 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. 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 payout ratio is 46.55%.
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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