Pennsylvania Trust Co reduced its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,690 shares of the financial services provider’s stock after selling 97 shares during the quarter. Pennsylvania Trust Co’s holdings in PNC Financial Services Group were worth $7,613,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Nadler Financial Group Inc. purchased a new position in shares of PNC Financial Services Group during the 4th quarter worth $218,000. Weather Gauge Advisory LLC purchased a new stake in PNC Financial Services Group during the fourth quarter valued at approximately $219,000. Accurate Investment Solutions Inc. lifted its stake in shares of PNC Financial Services Group by 79.1% in the 4th quarter. Accurate Investment Solutions Inc. now owns 2,063 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 911 shares during the last quarter. Cooper Financial Group bought a new stake in PNC Financial Services Group in the fourth quarter worth $216,000. Finally, FTB Advisors Inc. increased its position in PNC Financial Services Group by 3.3% during the fourth quarter. FTB Advisors Inc. now owns 38,682 shares of the financial services provider’s stock valued at $6,173,000 after acquiring an additional 1,243 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Vicki C. Henn sold 3,723 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $151.96, for a total value of $565,747.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph E. Rockey sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,550,000.00. The disclosure for this sale can be found here. Insiders sold 184,623 shares of company stock valued at $28,044,817 over the last quarter. Corporate insiders own 0.37% of the company’s stock.
PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.05. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.48 billion. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 earnings per share. Equities research analysts forecast that PNC Financial Services Group Inc will post 11.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Friday, January 17th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $4.60 dividend on an annualized basis and a yield of 3.03%. PNC Financial Services Group’s payout ratio is presently 42.95%.
A number of research analysts have weighed in on the stock. Royal Bank of Canada cut shares of PNC Financial Services Group from a “top pick” rating to an “outperform” rating and set a $155.00 price objective on the stock. in a research report on Monday, December 9th. Wells Fargo & Co lifted their target price on PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Barclays reissued a “hold” rating and issued a $181.00 price target on shares of PNC Financial Services Group in a research note on Tuesday, January 7th. ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley upped their price objective on shares of PNC Financial Services Group from $160.00 to $162.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $153.91.
About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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