Harbor Investment Advisory LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,104 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. Harbor Investment Advisory LLC’s holdings in The PNC Financial Services Group were worth $941,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of The PNC Financial Services Group by 1.6% in the 4th quarter. BlackRock Inc. now owns 29,974,459 shares of the financial services provider’s stock worth $6,010,476,000 after acquiring an additional 486,126 shares in the last quarter. State Street Corp raised its holdings in The PNC Financial Services Group by 2.8% in the fourth quarter. State Street Corp now owns 19,704,923 shares of the financial services provider’s stock worth $3,951,231,000 after purchasing an additional 536,564 shares in the last quarter. Capital Research Global Investors lifted its position in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Capital Research Global Investors now owns 16,957,554 shares of the financial services provider’s stock valued at $3,400,329,000 after buying an additional 1,639,724 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 6,874,797 shares of the financial services provider’s stock valued at $1,374,503,000 after buying an additional 139,102 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $809,193,000. Institutional investors and hedge funds own 83.54% of the company’s stock.
PNC has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a report on Monday, March 28th. StockNews.com initiated coverage on The PNC Financial Services Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James decreased their price target on The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating for the company in a research note on Monday, April 18th. Argus dropped their price target on The PNC Financial Services Group from $245.00 to $220.00 in a research note on Monday, April 18th. Finally, Wolfe Research cut their price objective on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $215.29.
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,257 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the completion of the transaction, the executive vice president now directly owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Niblock acquired 2,000 shares of the stock in a transaction on Friday, May 6th. The stock was bought at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the transaction, the director now owns 6,063 shares in the company, valued at approximately $1,012,945.41. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.
Shares of NYSE PNC opened at $157.77 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $149.51 and a 52 week high of $228.14. The business’s 50 day moving average price is $163.99 and its 200 day moving average price is $186.32. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.54. The firm has a market cap of $65.25 billion, a P/E ratio of 13.35, a P/E/G ratio of 2.25 and a beta of 1.24.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $2.78 by $0.51. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.72 billion. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.10 EPS. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 14.19 earnings per share for the current year.
About The PNC Financial Services Group: (Get Rating)
The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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