2 weeks Ago By ABMN Staff
Covington Investment Advisors Inc. lessened its holdings in The PNC Financial Services Group, Inc. ( NYSE:PNC – Free Report ) by 6.
7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,077 shares of the financial services provider’s stock after selling 6,718 shares during the quarter. The PNC Financial Services Group accounts for approximately 2.
3% of Covington Investment Advisors Inc.’s holdings, making the stock its 13th largest holding. Covington Investment Advisors Inc.
’s holdings in The PNC Financial Services Group were worth $14,472,000 as of its most recent SEC filing. A number of other large investors have also modified their holdings of the business. Valley Brook Capital Group Inc.
grew its holdings in shares of The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc.
now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after buying an additional 62 shares in the last quarter. Kowal Investment Group LLC grew its stake in The PNC Financial Services Group by 2.6% during the 2nd quarter.
Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 68 shares in the last quarter. Ranch Capital Advisors Inc. raised its holdings in The PNC Financial Services Group by 1.
0% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after acquiring an additional 69 shares during the last quarter.
Triangle Securities Wealth Management raised its holdings in The PNC Financial Services Group by 1.8% in the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 70 shares during the last quarter.
Finally, Cooper Financial Group boosted its holdings in shares of The PNC Financial Services Group by 1.7% during the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 70 shares during the last quarter.
Hedge funds and other institutional investors own 83.53% of the company’s stock. The PNC Financial Services Group Trading Down 0.
1 % PNC opened at $183.07 on Monday. The PNC Financial Services Group, Inc.
has a 52 week low of $109.40 and a 52 week high of $187.78.
The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.
36. The business has a fifty day simple moving average of $177.92 and a 200-day simple moving average of $164.
18. The firm has a market cap of $72.77 billion, a P/E ratio of 15.
37, a P/E/G ratio of 2.02 and a beta of 1.14.
The PNC Financial Services Group Increases Dividend The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a dividend of $1.60 per share.
The ex-dividend date of this dividend was Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55.
This represents a $6.40 dividend on an annualized basis and a yield of 3.50%.
The PNC Financial Services Group’s dividend payout ratio is 53.74%. Analysts Set New Price Targets Several equities research analysts recently commented on PNC shares.
Royal Bank of Canada increased their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th.
Morgan Stanley lifted their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th.
Jefferies Financial Group boosted their price target on shares of 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.
Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th.
Finally, Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th.
Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $176.
90. Get Our Latest Research Report on PNC Insider Buying and Selling at The PNC Financial Services Group In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, July 5th.
The stock was 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 directly owns 567,041 shares in the company, valued at $89,649,182.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website .
In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group 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 $89,649,182.
10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Also, CEO William S.
Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.
00. Following the sale, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at $90,341,920. The disclosure for this sale can be found here .
Insiders sold 25,223 shares of company stock valued at $4,453,360 in the last 90 days. Company 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.
Further Reading Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. ( NYSE:PNC – Free Report ).
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