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Conning Inc. lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 17.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,705 shares of the financial services provider’s stock after selling 51,880 shares during the quarter. The PNC Financial Services Group comprises approximately 1.3% of Conning Inc.’s investment portfolio, making the stock its 14th biggest position. Conning Inc. owned about 0.06% of The PNC Financial Services Group worth $36,889,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in PNC. OFI Invest Asset Management acquired a new stake in The PNC Financial Services Group during the third quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its position in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds 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 PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on PNC shares. Evercore ISI raised their target price on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Morgan Stanley raised their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Finally, UBS Group raised their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $157.10.
Get Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Trading Down 1.2 %
NYSE:PNC traded down $1.88 during trading hours on Friday, hitting $150.63. 1,487,412 shares of the company were exchanged, compared to its average volume of 1,645,833. The stock has a market capitalization of $59.92 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a fifty day simple moving average of $151.80 and a 200 day simple moving average of $141.29.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates 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 last year, the company earned $3.49 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.
About The PNC Financial Services Group
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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Conning Inc. lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 17.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,705 shares of the financial services provider’s stock after selling 51,880 shares during the quarter. The PNC Financial Services Group comprises approximately 1.3% of Conning Inc.’s investment portfolio, making the stock its 14th biggest position. Conning Inc. owned about 0.06% of The PNC Financial Services Group worth $36,889,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in PNC. OFI Invest Asset Management acquired a new stake in The PNC Financial Services Group during the third quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its position in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds 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 PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on PNC shares. Evercore ISI raised their target price on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Morgan Stanley raised their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Finally, UBS Group raised their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $157.10.
Get Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Trading Down 1.2 %
NYSE:PNC traded down $1.88 during trading hours on Friday, hitting $150.63. 1,487,412 shares of the company were exchanged, compared to its average volume of 1,645,833. The stock has a market capitalization of $59.92 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a fifty day simple moving average of $151.80 and a 200 day simple moving average of $141.29.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates 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 last year, the company earned $3.49 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.
About The PNC Financial Services Group
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.
Featured Articles
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 “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of seven stocks and why their long-term outlooks are very promising.
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