Princeton Global Asset Management LLC purchased a new position in PNC Financial Services Group Inc (NYSE:PNC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,645 shares of the financial services provider’s stock, valued at approximately $543,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. IMS Capital Management acquired a new position in shares of PNC Financial Services Group during the 3rd quarter valued at $28,000. Executive Wealth Management LLC acquired a new position in shares of PNC Financial Services Group during the 4th quarter valued at $29,000. Transamerica Financial Advisors Inc. acquired a new position in shares of PNC Financial Services Group during the 4th quarter valued at $36,000. Athena Capital Advisors LLC acquired a new position in shares of PNC Financial Services Group during the 4th quarter valued at $37,000. Finally, Ipswich Investment Management Co. Inc. acquired a new position in shares of PNC Financial Services Group during the 4th quarter valued at $43,000. 82.27% of the stock is currently owned by institutional investors and hedge funds.
PNC traded down $0.68 during trading on Friday, reaching $133.19. 2,392,438 shares of the stock traded hands, compared to its average volume of 2,060,061. The stock has a market cap of $60.42 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.55 and a beta of 1.05. PNC Financial Services Group Inc has a fifty-two week low of $108.45 and a fifty-two week high of $152.29. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.23.
The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th will be given a $0.95 dividend. The ex-dividend date is Monday, April 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.85%. PNC Financial Services Group’s dividend payout ratio is currently 35.48%.
Several equities analysts have recently issued reports on PNC shares. Bank of America cut PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research report on Thursday, January 10th. Zacks Investment Research cut PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Royal Bank of Canada decreased their target price on PNC Financial Services Group to $150.00 and set an “average” rating on the stock in a report on Thursday, January 17th. Morgan Stanley lifted their target price on PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Deutsche Bank cut PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $123.89 target price on the stock. in a report on Friday, January 25th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $145.66.
In related news, Director Martin Pfinsgraff purchased 500 shares of PNC Financial Services Group stock in a transaction on Thursday, February 21st. The stock was bought at an average price of $125.69 per share, with a total value of $62,845.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Q. Reilly sold 12,361 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $122.50, for a total value of $1,514,222.50. Following the completion of the sale, the executive vice president now directly owns 118,671 shares of the company’s stock, valued at approximately $14,537,197.50. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.
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PNC Financial Services Group Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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