Stephens Inc. AR increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,785 shares of the financial services provider’s stock after acquiring an additional 87 shares during the period. Stephens Inc. AR’s holdings in The PNC Financial Services Group were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. MGO One Seven LLC increased its holdings in shares of The PNC Financial Services Group by 79.6% in the 4th quarter. MGO One Seven LLC now owns 12,027 shares of the financial services provider’s stock worth $1,900,000 after buying an additional 5,330 shares during the last quarter. Cornerstone Wealth Group LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $2,680,000. Daymark Wealth Partners LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $6,320,000. Artemis Investment Management LLP increased its holdings in shares of The PNC Financial Services Group by 20.5% in the 4th quarter. Artemis Investment Management LLP now owns 113,860 shares of the financial services provider’s stock worth $18,076,000 after buying an additional 19,341 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of The PNC Financial Services Group by 6.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,270 shares of the financial services provider’s stock worth $201,000 after buying an additional 79 shares during the last quarter. Institutional investors own 82.05% of the company’s stock.
The PNC Financial Services Group Trading Up 0.4 %
Shares of PNC opened at $121.88 on Friday. The stock has a market capitalization of $48.71 billion, a P/E ratio of 8.79, a PEG ratio of 1.05 and a beta of 1.12. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $145.34 and a two-hundred day simple moving average of $153.47. The PNC Financial Services Group, Inc. has a twelve month low of $119.27 and a twelve month high of $188.59.
The PNC Financial Services Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 5th. Shareholders of record on Tuesday, April 18th will be issued a $1.50 dividend. The ex-dividend date is Monday, April 17th. This represents a $6.00 annualized dividend and a yield of 4.92%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.26%.
Insiders Place Their Bets
In related news, CEO William S. Demchak acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $129.70 per share, for a total transaction of $129,700.00. Following the acquisition, the chief executive officer now owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William S. Demchak acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $129.70 per share, for a total transaction of $129,700.00. Following the acquisition, the chief executive officer now owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak acquired 6,550 shares of the firm’s stock in a transaction on Friday, January 20th. The stock was bought at an average price of $153.38 per share, with a total value of $1,004,639.00. Following the completion of the acquisition, the chief executive officer now directly owns 482,924 shares in the company, valued at approximately $74,070,883.12. The disclosure for this purchase can be found here. Company insiders own 0.39% of the company’s stock.
Analyst Ratings Changes
PNC has been the topic of a number of research analyst reports. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Thursday, March 30th. Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $198.00 to $186.00 and set an “overweight” rating on the stock in a report on Monday. Bank of America lowered shares of The PNC Financial Services Group from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $157.00 to $160.00 in a report on Thursday, January 5th. Morgan Stanley cut their price objective on shares of The PNC Financial Services Group from $163.00 to $137.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $150.00 to $164.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $175.08.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.
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