Diversified Trust Co boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 23.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,563 shares of the financial services provider’s stock after buying an additional 1,653 shares during the period. Diversified Trust Co’s holdings in The PNC Financial Services Group were worth $1,088,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PNC. Norges Bank bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $735,469,000. Moneta Group Investment Advisors LLC increased its position in The PNC Financial Services Group by 122,771.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after buying an additional 2,538,916 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in The PNC Financial Services Group by 105.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,535,019 shares of the financial services provider’s stock valued at $557,427,000 after buying an additional 1,813,876 shares in the last quarter. Morgan Stanley increased its position in The PNC Financial Services Group by 28.7% in the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after buying an additional 1,045,055 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in The PNC Financial Services Group by 7.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after buying an additional 860,489 shares in the last quarter. 79.27% of the stock is owned by institutional investors.
Insider Buying and Selling at The PNC Financial Services Group
In other news, Director Joseph Alvarado purchased 1,000 shares of the stock in a transaction on Friday, April 21st. The shares were acquired at an average price of $123.89 per share, for a total transaction of $123,890.00. Following the completion of the transaction, the director now directly owns 1,100 shares of the company’s stock, valued at approximately $136,279. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Joseph Alvarado purchased 1,000 shares of the stock in a transaction on Friday, April 21st. The shares were acquired at an average price of $123.89 per share, for a total transaction of $123,890.00. Following the completion of the transaction, the director now directly owns 1,100 shares of the company’s stock, valued at approximately $136,279. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bryan Scott Salesky purchased 400 shares of the stock in a transaction on Wednesday, June 7th. The shares were purchased at an average price of $127.10 per share, for a total transaction of $50,840.00. Following the transaction, the director now directly owns 410 shares of the company’s stock, valued at $52,111. The disclosure for this purchase can be found here. Company insiders own 0.39% of the company’s stock.
The PNC Financial Services Group Trading Down 1.6 %
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $3.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.38. The PNC Financial Services Group had a return on equity of 13.41% and a net margin of 23.95%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter last year, the business posted $3.29 earnings per share. The firm’s revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.96 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 5th. Investors of record on Tuesday, April 18th were given a $1.50 dividend. The ex-dividend date was Monday, April 17th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.74%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 41.04%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Credit Suisse Group lowered their price objective on The PNC Financial Services Group from $165.00 to $145.00 in a research note on Tuesday, April 18th. StockNews.com assumed coverage on The PNC Financial Services Group in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Citigroup lowered their price objective on The PNC Financial Services Group from $150.00 to $145.00 in a research note on Thursday, June 8th. Morgan Stanley lowered their price objective on 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, April 5th. Finally, UBS Group increased 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. Four analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $162.04.
About The PNC Financial Services Group
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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