By otakuyassine3@gmail.com 
Robeco Institutional Asset Management B.V. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,215 shares of the financial services provider’s stock after selling 8,146 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in The PNC Financial Services Group were worth $11,420,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Life Insurance Co. increased its position in shares of The PNC Financial Services Group by 59.8% in the 4th quarter. Sumitomo Life Insurance Co. now owns 9,746 shares of the financial services provider’s stock worth $1,880,000 after purchasing an additional 3,646 shares during the last quarter. R Squared Ltd bought a new stake in The PNC Financial Services Group in the fourth quarter valued at about $148,000. BSW Wealth Partners raised its stake in The PNC Financial Services Group by 10.1% during the fourth quarter. BSW Wealth Partners now owns 4,231 shares of the financial services provider’s stock valued at $816,000 after buying an additional 389 shares in the last quarter. Stonegate Investment Group LLC lifted its holdings in The PNC Financial Services Group by 7.0% during the 4th quarter. Stonegate Investment Group LLC now owns 2,825 shares of the financial services provider’s stock worth $545,000 after buying an additional 186 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its position in shares of The PNC Financial Services Group by 49.9% in the 4th quarter. Perigon Wealth Management LLC now owns 8,747 shares of the financial services provider’s stock worth $1,719,000 after acquiring an additional 2,912 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
The PNC Financial Services Group Stock Performance
PNC opened at $200.63 on Friday. 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 firm has a market cap of $79.60 billion, a PE ratio of 14.59, a P/E/G ratio of 1.64 and a beta of 1.16. The business has a fifty day simple moving average of $199.85 and a 200-day simple moving average of $189.66. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the company posted $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Barclays upped their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two 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. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $205.00.
View Our Latest Analysis on PNC
Insider Buying and Selling
In other news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 29th. The shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the transaction, the chief executive officer now owns 533,765 shares in the company, valued at $115,298,577.65. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,171 shares of company stock valued at $5,786,210. Company insiders own 0.42% of the company’s stock.
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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