2 weeks Ago By Defense World Staff
Brandes Investment Partners LP raised its stake in The PNC Financial Services Group, Inc. ( NYSE:PNC – Free Report ) by 10.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission.
The institutional investor owned 901,415 shares of the financial services provider’s stock after purchasing an additional 81,841 shares during the quarter. The PNC Financial Services Group makes up about 1.7% of Brandes Investment Partners LP’s portfolio, making the stock its 19th biggest holding.
Brandes Investment Partners LP owned 0.23% of The PNC Financial Services Group worth $139,954,000 as of its most recent filing with the Securities & Exchange Commission. Several other institutional investors have also recently made changes to their positions in the stock.
Capital International Investors raised its position in The PNC Financial Services Group by 0.5% during the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after acquiring an additional 78,407 shares in the last quarter.
Ameriprise Financial Inc. raised its holdings in shares of The PNC Financial Services Group by 0.4% in the 2nd quarter.
Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the period. Capital Research Global Investors lifted its stake in The PNC Financial Services Group by 19.
5% in the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares during the last quarter. Putnam Investments LLC increased its position in The PNC Financial Services Group by 3.
2% during the fourth quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock worth $568,662,000 after buying an additional 114,960 shares during the last quarter. Finally, Legal & General Group Plc increased its position in The PNC Financial Services Group by 6.
8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after buying an additional 223,955 shares during the last quarter. Institutional investors and hedge funds own 83.
53% of the company’s stock. Analyst Ratings Changes PNC has been the subject of several research analyst reports. UBS Group lifted their target price on The PNC Financial Services Group from $179.
00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $165.
00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $152.
00 to $162.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Barclays raised their price objective on shares of The PNC Financial Services Group from $199.
00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group upped their target price on The PNC Financial Services Group from $162.
00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock.
According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $176.90. The PNC Financial Services Group Stock Down 0.
1 % NYSE PNC opened at $183.07 on Monday. The business has a fifty day moving average price of $177.
92 and a two-hundred day moving average price of $164.18. The stock has a market capitalization of $72.
77 billion, a PE ratio of 15.37, a PEG ratio of 2.02 and a beta of 1.
14. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.
40 and a fifty-two week high of $187.78. The company has a debt-to-equity ratio of 1.
36, a current ratio of 0.83 and a quick ratio of 0.82.
The PNC Financial Services Group ( NYSE:PNC – Get Free Report ) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.
00 by $0.30. The business had revenue of $5.
41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.
33% and a net margin of 15.53%. The PNC Financial Services Group’s revenue was up 2.
2% compared to the same quarter last year. During the same period last year, the firm posted $3.36 earnings per share.
Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current fiscal year.
The PNC Financial Services Group Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend.
This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th.
This represents a $6.40 annualized dividend and a yield of 3.50%.
The PNC Financial Services Group’s dividend payout ratio is presently 53.74%. Insider Buying and Selling at The PNC Financial Services Group In other news, CEO William S.
Demchak sold 641 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.
10. Following the completion of the transaction, the chief executive officer now directly owns 567,041 shares in the company, valued at $89,649,182.10.
The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link . In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, July 5th.
The shares were sold at an average price of $158.10, for a total value of $101,342.10.
Following the completion of the transaction, the chief executive officer now owns 567,041 shares in the company, valued at approximately $89,649,182.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link .
Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.
58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.
10. The disclosure for this sale can be found here . Insiders have sold 25,223 shares of company stock worth $4,453,360 over the last quarter.
Corporate insiders own 0.42% of the company’s stock. The PNC Financial Services Group Profile ( Free Report ) 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. Recommended Stories Five stocks we like better than The PNC Financial Services Group 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion 3 Bargain Stocks Under $20 With Major Growth Potential What Are Dividends? Buy the Best Dividend Stocks Top 5 ETFs to Own Now and Into 2025 Investing in the High PE Growth Stocks Watch These 3 Former Short-Squeeze Stocks for a Big Rally Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.
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