By otakuyassine3@gmail.com 
Forsta AP Fonden lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 8.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 127,600 shares of the financial services provider’s stock after acquiring an additional 10,200 shares during the period. Forsta AP Fonden’s holdings in The PNC Financial Services Group were worth $24,608,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in PNC. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Valley Wealth Managers Inc. lifted its holdings in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Quarry LP grew its position in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in The PNC Financial Services Group during the 3rd quarter valued at $51,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup lifted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.
View Our Latest Stock Report on The PNC Financial Services Group
Insider Buying and Selling
In related news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the sale, the chief executive officer now directly owns 543,523 shares in the company, valued at approximately $102,997,608.50. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,413 shares of company stock valued at $6,021,569. Corporate insiders own 0.42% of the company’s stock.
The PNC Financial Services Group Price Performance
NYSE PNC opened at $201.70 on Wednesday. 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 company has a market cap of $80.03 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The firm’s 50-day simple moving average is $200.14 and its two-hundred day simple moving average is $189.26.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company posted $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.
The PNC Financial Services Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.
The PNC Financial Services Group Company 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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