American Century Companies Inc. reduced its stake in PNC Financial Services Group Inc (NYSE:PNC) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,981,584 shares of the financial services provider’s stock after selling 203,954 shares during the period. PNC Financial Services Group accounts for about 0.7% of American Century Companies Inc.’s investment portfolio, making the stock its 16th biggest holding. American Century Companies Inc. owned about 1.05% of PNC Financial Services Group worth $718,793,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of PNC. Tower Research Capital LLC TRC raised its holdings in shares of PNC Financial Services Group by 12.5% during the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after buying an additional 91 shares during the last quarter. Atlantic Trust LLC bought a new stake in PNC Financial Services Group during the second quarter worth approximately $129,000. Resources Investment Advisors Inc. raised its holdings in PNC Financial Services Group by 130.7% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 600 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in PNC Financial Services Group during the fourth quarter worth approximately $157,000. Finally, Legacy Advisors LLC bought a new stake in PNC Financial Services Group during the third quarter worth approximately $136,000. Institutional investors own 81.98% of the company’s stock.
Several equities analysts have weighed in on PNC shares. Royal Bank of Canada lifted their price objective on shares of PNC Financial Services Group to $170.00 and gave the stock an “average” rating in a research report on Friday, January 12th. Piper Jaffray Companies restated a “buy” rating and set a $151.00 price target on shares of PNC Financial Services Group in a report on Monday, December 4th. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a report on Tuesday, October 31st. Goldman Sachs Group lowered shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, Argus lifted their price objective on shares of PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Eighteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $145.98.
In other news, insider E William Parsley III sold 46,307 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $143.43, for a total transaction of $6,641,813.01. Following the completion of the sale, the insider now owns 132,544 shares of the company’s stock, valued at $19,010,785.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $140.98, for a total transaction of $704,900.00. The disclosure for this sale can be found here. Insiders have sold 103,894 shares of company stock valued at $14,897,513 in the last three months. 0.43% of the stock is owned by insiders.
PNC Financial Services Group Inc (NYSE:PNC) opened at $151.40 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The firm has a market cap of $71,758.84, a P/E ratio of 14.55, a P/E/G ratio of 1.42 and a beta of 0.93. PNC Financial Services Group Inc has a twelve month low of $115.25 and a twelve month high of $160.07.
PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $1.97 earnings per share. equities analysts predict that PNC Financial Services Group Inc will post 10.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is 28.85%.
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About PNC Financial Services Group
The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.
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