Graypoint LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 13.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,522 shares of the financial services provider’s stock after selling 386 shares during the quarter. Graypoint LLC’s holdings in The PNC Financial Services Group were worth $391,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $28,000. Finally, OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth about $25,000. Institutional investors own 83.53% of the company’s stock.
Insider Transactions at The PNC Financial Services Group
In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.
The PNC Financial Services Group Price Performance
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The PNC Financial Services Group’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.49 EPS. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.42 earnings per share 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 Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.12%. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.
Wall Street Analysts Forecast Growth
PNC has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a report on Monday, April 8th. UBS Group increased their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the company an “underperform” rating in a research report on Friday, April 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $157.10.
Read Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Profile
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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