Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE: PNC – Get Rating) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,420 shares of the financial services provider’s stock after selling 150 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in The PNC Financial Services Group were worth $ 815,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of PNC. Citizens National Bank Trust Department purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $ 28,000. Retirement Planning Co of New England Inc. purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $ 30,000. Guardian Wealth Management Inc. purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $ 32,000. Covestor Ltd purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $ 40,000. Finally, Equitec Proprietary Markets LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $ 47,000. 83.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of PNC opened at $ 155.80 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $ 149.51 and a 1-year high of $ 228.14. The stock has a market cap of $ 64.44 billion, a PE ratio of 13.18, a P / E / G ratio of 2.17 and a beta of 1.24. The firm has a 50-day simple moving average of $ 165.72 and a two-hundred day simple moving average of $ 187.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.74.
The PNC Financial Services Group (NYSE: PNC – Get Rating) last announced its quarterly earnings results on Thursday, April 14th. The financial services provider reported $ 3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $ 2.78 by $ 0.51. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The business had revenue of $ 4.69 billion during the quarter, compared to analysts’ expectations of $ 4.72 billion. During the same period last year, the business earned $ 4.10 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 14.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Wednesday, April 13th were issued a $ 1.50 dividend. The ex-dividend date of this dividend was Tuesday, April 12th. This represents a $ 6.00 dividend on an annualized basis and a dividend yield of 3.85%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $ 1.25. The PNC Financial Services Group’s payout ratio is 50.76%.
Several research firms have issued reports on PNC. Piper Sandler decreased their price objective on shares of The PNC Financial Services Group from $ 215.00 to $ 201.00 and set a “neutral” rating on the stock in a report on Friday, April 1st. Argus decreased their price target on shares of The PNC Financial Services Group from $ 245.00 to $ 220.00 in a research note on Monday, April 18th. StockNews.com assumed coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley decreased 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 research note on Monday, March 28th. Finally, Raymond James decreased their price target on shares of The PNC Financial Services Group from $ 215.00 to $ 210.00 and set an “outperform” rating on the stock in a research note on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $ 215.29.
In related news, EVP Guild Deborah sold 1,257 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 3rd. The shares were 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 owns 23,360 shares in the company, valued at $ 3,984,281.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert A. Niblock acquired 2,000 shares of the company stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average price of $ 167.07 per share, with a total value of $ 334,140.00. Following the acquisition, the director now directly owns 6,063 shares of the company stock, valued at approximately $ 1,012,945.41. The disclosure for this purchase can be found here. Insiders own 0.34% of the company stock.
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 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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