Tradewinds LLC. 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 Form 13F filing with the Securities & Exchange Commission. The fund bought 1,878 shares of the financial services provider's stock, valued at approximately $373,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. National Bank of Canada FI lifted its stake in The PNC Financial Services Group by 36.9% during the 4th quarter. National Bank of Canada FI now owns 338,028 shares of the financial services provider's stock valued at $65,189,000 after acquiring an additional 91,193 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in shares of The PNC Financial Services Group by 1.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 7,999 shares of the financial services provider's stock valued at $1,593,000 after purchasing an additional 97 shares in the last quarter. Franklin Resources Inc. boosted its holdings in The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after purchasing an additional 549,278 shares during the last quarter. Summit Financial LLC grew its position in The PNC Financial Services Group by 3.7% in the 4th quarter. Summit Financial LLC now owns 3,643 shares of the financial services provider's stock worth $703,000 after purchasing an additional 131 shares in the last quarter. Finally, Hoey Investments Inc. purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 83.53% of the company's stock.
The PNC Financial Services Group Stock Performance
Shares of NYSE:PNC traded down $8.44 during midday trading on Friday, reaching $152.85. 4,147,372 shares of the company traded hands, compared to its average volume of 1,905,861. The firm's fifty day moving average price is $184.93 and its two-hundred day moving average price is $191.73. The firm has a market capitalization of $60.49 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. 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 12 month low of $143.52 and a 12 month high of $216.26.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm earned $3.16 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.
The PNC Financial Services Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Barclays upped 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 note on Monday, January 6th. The Goldman Sachs Group lowered 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 note on Wednesday, March 19th. Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Compass Point lifted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Two equities research 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's stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Hold" and an average target price of $205.18.
Read Our Latest Research Report on PNC
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the sale, the chief executive officer now owns 526,313 shares of the company's stock, valued at $101,515,251.44. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 12,420 shares of company stock valued at $2,320,739 in the last three months. Company insiders own 0.41% of the company's stock.
About The PNC Financial Services Group
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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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