Guggenheim Capital LLC grew its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 385,376 shares of the financial services provider’s stock after buying an additional 9,054 shares during the quarter. Guggenheim Capital LLC owned 0.08% of PNC Financial Services Group worth $55,605,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PNC. Truewealth LLC purchased a new stake in PNC Financial Services Group during the fourth quarter worth approximately $107,000. Crewe Advisors LLC purchased a new stake in PNC Financial Services Group during the fourth quarter worth approximately $134,000. Resources Investment Advisors Inc. grew its stake 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 buying an additional 600 shares during the period. Capital Guardian Trust Co. purchased a new stake in PNC Financial Services Group during the third quarter worth approximately $154,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in PNC Financial Services Group during the fourth quarter worth approximately $157,000. Institutional investors own 82.24% of the company’s stock.
Several research firms have issued reports on PNC. Wells Fargo set a $157.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $162.00 price objective on shares of PNC Financial Services Group in a research note on Friday, December 29th. Morgan Stanley boosted their price objective on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Bank of America upped their target price on shares of PNC Financial Services Group from $160.00 to $166.00 and gave the company a “buy” rating in a research note on Tuesday, March 13th. Finally, BMO Capital Markets restated a “buy” rating on shares of PNC Financial Services Group in a research note on Thursday, January 25th. Nineteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $146.89.
In other PNC Financial Services Group news, insider Michael J. Hannon sold 8,011 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the transaction, the insider now directly owns 58,820 shares in the company, valued at approximately $9,070,044. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.
NYSE PNC opened at $147.95 on Friday. PNC Financial Services Group Inc has a 12 month low of $115.45 and a 12 month high of $163.59. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $71,917.53, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.41 and a beta of 0.91.
PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.51%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the firm posted $1.97 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. research analysts expect that PNC Financial Services Group Inc will post 10.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, May 5th. Shareholders of record on Monday, April 16th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, April 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.03%. PNC Financial Services Group’s dividend payout ratio (DPR) is 35.29%.
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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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