Mercer Global Advisors Inc. ADV lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,231 shares of the financial services provider’s stock after selling 1,229 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in The PNC Financial Services Group were worth $3,827,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in PNC. Blair William & Co. IL boosted its position in The PNC Financial Services Group by 0.5% in the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after purchasing an additional 89 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of The PNC Financial Services Group by 12.0% during the 1st quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after buying an additional 1,724 shares in the last quarter. Covestor Ltd boosted its position in shares of The PNC Financial Services Group by 68.8% in the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 137 shares during the period. West Family Investments Inc. increased its stake in shares of The PNC Financial Services Group by 9.1% in the first quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 97 shares in the last quarter. Finally, Ergoteles LLC lifted its stake in shares of The PNC Financial Services Group by 137.9% during the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock valued at $3,882,000 after buying an additional 12,201 shares in the last quarter. Institutional investors own 82.05% of the company’s stock.
The PNC Financial Services Group Price Performance
NYSE PNC opened at $111.58 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50 day moving average price is $125.26 and its 200-day moving average price is $147.36. The PNC Financial Services Group, Inc. has a 52-week low of $110.31 and a 52-week high of $176.47. The company has a market cap of $44.53 billion, a PE ratio of 7.63, a P/E/G ratio of 1.03 and a beta of 1.12.
The PNC Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 5th. Shareholders of record on Tuesday, April 18th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Monday, April 17th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 41.04%.
Insider Buying and Selling at The PNC Financial Services Group
In related news, CEO William S. Demchak purchased 1,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $129.70 per share, for a total transaction of $129,700.00. Following the purchase, the chief executive officer now owns 525,349 shares of the company’s stock, valued at approximately $68,137,765.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
PNC has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $175.00 to $151.50 and set an “overweight” rating for the company in a research note on Monday, April 10th. Piper Sandler lifted their price objective on The PNC Financial Services Group from $150.00 to $164.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 15th. UBS Group lifted their price objective on The PNC Financial Services Group from $130.00 to $134.00 and gave the stock a “neutral” rating in a research note on Monday, April 17th. Keefe, Bruyette & Woods dropped their price objective on shares of The PNC Financial Services Group from $125.00 to $120.00 and set an “underperform” rating for the company in a research note on Monday, April 17th. Finally, Royal Bank of Canada lowered their price objective on The PNC Financial Services Group from $185.00 to $167.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $162.30.
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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